Boyar Asset Management Inc. Increases Holdings in Perrigo Company plc $PRGO

Boyar Asset Management Inc. raised its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 2.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 26,914 shares of the company’s stock after buying an additional 728 shares during the quarter. Boyar Asset Management Inc.’s holdings in Perrigo were worth $719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Perrigo by 41.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,073,026 shares of the company’s stock valued at $310,488,000 after purchasing an additional 3,227,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Perrigo by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,135,741 shares of the company’s stock valued at $200,085,000 after buying an additional 146,211 shares in the last quarter. Sound Shore Management Inc. CT grew its position in shares of Perrigo by 23.1% in the 1st quarter. Sound Shore Management Inc. CT now owns 3,285,167 shares of the company’s stock valued at $92,116,000 after buying an additional 616,387 shares during the last quarter. Ion Asset Management Ltd. raised its stake in Perrigo by 0.5% during the 1st quarter. Ion Asset Management Ltd. now owns 2,833,894 shares of the company’s stock worth $79,462,000 after acquiring an additional 13,894 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its position in Perrigo by 2.6% in the first quarter. Copeland Capital Management LLC now owns 2,452,786 shares of the company’s stock valued at $68,776,000 after acquiring an additional 63,022 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Activity

In other Perrigo news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $22.74 per share, with a total value of $68,220.00. Following the purchase, the chief financial officer owned 48,949 shares in the company, valued at approximately $1,113,100.26. This represents a 6.53% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Geoffrey M. Parker purchased 4,375 shares of Perrigo stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $22.97 per share, with a total value of $100,493.75. Following the completion of the acquisition, the director directly owned 33,287 shares in the company, valued at approximately $764,602.39. This trade represents a 15.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 10,118 shares of company stock valued at $232,699. 0.70% of the stock is owned by insiders.

Perrigo Stock Up 1.7%

Perrigo stock opened at $22.52 on Friday. The stock has a 50 day moving average of $23.26 and a two-hundred day moving average of $25.42. Perrigo Company plc has a twelve month low of $20.51 and a twelve month high of $30.93. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -38.83 and a beta of 0.43. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. Perrigo’s payout ratio is presently -200.00%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRGO. Canaccord Genuity Group dropped their price objective on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Wall Street Zen upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. JPMorgan Chase & Co. reduced their price objective on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Perrigo in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Perrigo has a consensus rating of “Hold” and an average target price of $34.00.

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.