Amalgamated Bank Grows Position in Perrigo Company plc (NYSE:PRGO)

Amalgamated Bank lifted its position in Perrigo Company plc (NYSE:PRGO) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 64,086 shares of the company’s stock after purchasing an additional 522 shares during the quarter. Amalgamated Bank’s holdings in Perrigo were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Perrigo by 229.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares during the period. Geode Capital Management LLC boosted its position in Perrigo by 4.7% during the third quarter. Geode Capital Management LLC now owns 2,359,072 shares of the company’s stock worth $61,894,000 after purchasing an additional 106,356 shares in the last quarter. FMR LLC grew its holdings in Perrigo by 66,795.3% in the third quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after purchasing an additional 1,837,538 shares during the period. Victory Capital Management Inc. increased its position in shares of Perrigo by 1.2% in the third quarter. Victory Capital Management Inc. now owns 1,422,288 shares of the company’s stock valued at $37,307,000 after buying an additional 16,735 shares in the last quarter. Finally, Systematic Financial Management LP increased its position in shares of Perrigo by 10.3% in the third quarter. Systematic Financial Management LP now owns 1,252,653 shares of the company’s stock valued at $32,857,000 after buying an additional 116,832 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PRGO shares. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Perrigo currently has an average rating of “Hold” and a consensus price target of $33.00.

Perrigo Price Performance

NYSE:PRGO opened at $28.98 on Monday. The stock has a 50 day moving average price of $24.94 and a 200 day moving average price of $26.19. The stock has a market cap of $3.95 billion, a PE ratio of -24.76 and a beta of 0.54. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Equities research analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be paid a $0.29 dividend. This is a boost from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.00%. Perrigo’s dividend payout ratio is -92.80%.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.