First Eagle Investment Management LLC Acquires New Holdings in Perrigo Company plc (NYSE:PRGO)

First Eagle Investment Management LLC bought a new position in shares of Perrigo Company plc (NYSE:PRGO) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 57,019 shares of the company’s stock, valued at approximately $1,466,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Perrigo during the 4th quarter worth $45,000. GAMMA Investing LLC boosted its holdings in Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after acquiring an additional 929 shares during the period. Central Pacific Bank Trust Division grew its position in shares of Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 500 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Perrigo by 97.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after purchasing an additional 2,084 shares during the period. Finally, KBC Group NV lifted its position in shares of Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PRGO shares. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $27.00 in a 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.00.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $27.26 on Monday. The business’s 50 day moving average is $25.42 and its 200-day moving average is $26.17. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.72 billion, a PE ratio of -23.30 and a beta of 0.48. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.46.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Sell-side analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Perrigo 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.