Perrigo Company plc (NYSE:PRGO) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 23.2% in the second quarter, Holdings Channel reports. The firm owned 1,405,553 shares of the company’s stock after buying an additional 264,647 shares during the period. Victory Capital Management Inc.’s holdings in Perrigo were worth $36,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Perrigo by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company’s stock worth $482,517,000 after buying an additional 91,322 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Perrigo by 0.9% in the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock worth $89,916,000 after acquiring an additional 30,150 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Perrigo by 10.1% during the first quarter. DAVENPORT & Co LLC now owns 3,449,352 shares of the company’s stock worth $111,035,000 after purchasing an additional 317,552 shares in the last quarter. Perpetual Ltd raised its stake in Perrigo by 20.5% in the 1st quarter. Perpetual Ltd now owns 2,780,984 shares of the company’s stock valued at $87,490,000 after purchasing an additional 472,245 shares during the last quarter. Finally, Boston Partners acquired a new stake in Perrigo during the 4th quarter worth $74,255,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 3.8 %

Shares of PRGO opened at $26.64 on Tuesday. Perrigo Company plc has a 52-week low of $24.82 and a 52-week high of $34.60. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The stock has a fifty day simple moving average of $27.73 and a two-hundred day simple moving average of $28.84. The company has a market capitalization of $3.63 billion, a PE ratio of -380.57 and a beta of 0.49.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. The firm 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%. Perrigo’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share. As a group, equities analysts forecast that Perrigo Company plc will post 2.57 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be given a $0.276 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 4.14%. Perrigo’s payout ratio is -1,571.43%.

Insiders Place Their Bets

In other news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the sale, the executive vice president now owns 20,553 shares in the company, valued at $604,258.20. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Piper Sandler decreased their target price 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.

About Perrigo

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.