Perrigo Company plc (NYSE:PRGO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 13.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 453,884 shares of the company’s stock after selling 71,352 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of Perrigo worth $11,656,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in Perrigo during the 1st quarter valued at about $48,000. Parallel Advisors LLC grew its stake in shares of Perrigo by 69.1% in the 4th quarter. Parallel Advisors LLC now owns 2,009 shares of the company’s stock worth $65,000 after purchasing an additional 821 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Perrigo by 23.8% in the 1st quarter. Fifth Third Bancorp now owns 2,071 shares of the company’s stock worth $67,000 after purchasing an additional 398 shares during the last quarter. Eagle Bay Advisors LLC grew its stake in shares of Perrigo by 48.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,156 shares of the company’s stock worth $69,000 after purchasing an additional 705 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new position in shares of Perrigo in the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now directly owns 73,553 shares in the company, valued at $2,041,095.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now directly owns 73,553 shares in the company, valued at $2,041,095.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of Perrigo stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at approximately $604,258.20. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PRGO shares. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Piper Sandler lowered their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th.

Perrigo Stock Performance

PRGO stock opened at $27.69 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The stock has a market cap of $3.77 billion, a P/E ratio of -395.57 and a beta of 0.49. The firm has a 50 day simple moving average of $27.72 and a 200 day simple moving average of $28.92. Perrigo Company plc has a 52 week low of $24.82 and a 52 week high of $34.60.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Research analysts anticipate that Perrigo Company plc will post 2.57 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be issued a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Friday, August 30th. Perrigo’s dividend payout ratio is currently -1,571.43%.

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.