Tidal Investments LLC Has $1.44 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

Tidal Investments LLC boosted its stake in Perrigo Company plc (NYSE:PRGO) by 29.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,830 shares of the company’s stock after purchasing an additional 12,456 shares during the quarter. Tidal Investments LLC’s holdings in Perrigo were worth $1,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Perrigo by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock worth $183,935,000 after buying an additional 249,640 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock valued at $99,701,000 after purchasing an additional 391,646 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Perrigo by 0.9% during the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock valued at $89,916,000 after purchasing an additional 30,150 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Perrigo by 229.2% during the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock worth $70,761,000 after purchasing an additional 1,878,145 shares during the last quarter. Finally, Copeland Capital Management LLC increased its stake in shares of Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock valued at $65,117,000 after buying an additional 465,161 shares during the period. Institutional investors own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $25.44 on Thursday. The stock’s 50 day moving average is $26.63 and its 200-day moving average is $26.94. Perrigo Company plc has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -21.74 and a beta of 0.52.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Sell-side analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, November 29th. Perrigo’s dividend payout ratio is currently -94.02%.

Insider Transactions at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now directly owns 5,409 shares of the company’s stock, valued at $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRGO. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Perrigo presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.