Boston Partners Sells 1,639,260 Shares of Perrigo Company plc (NYSE:PRGO)

Boston Partners lowered its position in Perrigo Company plc (NYSE:PRGO) by 71.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 663,455 shares of the company’s stock after selling 1,639,260 shares during the period. Boston Partners owned approximately 0.49% of Perrigo worth $21,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Perrigo in the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust increased its position in shares of Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares in the last quarter. Hexagon Capital Partners LLC purchased a new stake in shares of Perrigo during the 4th quarter valued at $37,000. Central Pacific Bank Trust Division purchased a new position in Perrigo during the 1st quarter worth $48,000. Finally, Blue Trust Inc. boosted its holdings in Perrigo by 34.5% in the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after acquiring an additional 399 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler dropped their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th.

Insiders Place Their Bets

In other news, EVP Svend Andersen acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the acquisition, the executive vice president now owns 101,853 shares in the company, valued at approximately $2,841,698.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Perrigo Price Performance

Shares of Perrigo stock traded down $0.60 during trading hours on Friday, reaching $27.58. The stock had a trading volume of 3,935,419 shares, compared to its average volume of 1,549,793. The stock’s 50 day moving average is $26.99 and its 200 day moving average is $29.67. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 0.77. Perrigo Company plc has a twelve month low of $24.82 and a twelve month high of $40.28. The firm has a market capitalization of $3.76 billion, a PE ratio of -394.00 and a beta of 0.51.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. Perrigo’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Equities analysts expect that Perrigo Company plc will post 2.56 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 $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.00%. The ex-dividend date is Friday, August 30th. Perrigo’s payout ratio is presently -1,571.43%.

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.