Los Angeles Capital Management LLC Buys 158,144 Shares of Perrigo Company plc (NYSE:PRGO)

Los Angeles Capital Management LLC increased its stake in Perrigo Company plc (NYSE:PRGO) by 1,578.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,164 shares of the company’s stock after purchasing an additional 158,144 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.12% of Perrigo worth $5,413,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. NBC Securities Inc. increased its stake in shares of Perrigo by 3.5% in the fourth quarter. NBC Securities Inc. now owns 9,983 shares of the company’s stock worth $321,000 after purchasing an additional 340 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Perrigo by 4.1% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after buying an additional 380 shares in the last quarter. Blue Trust Inc. raised its holdings in Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares during the period. Xponance Inc. raised its holdings in Perrigo by 2.1% during the 4th quarter. Xponance Inc. now owns 20,153 shares of the company’s stock valued at $649,000 after acquiring an additional 410 shares during the period. Finally, M&R Capital Management Inc. boosted its holdings in shares of Perrigo by 3.0% in the first quarter. M&R Capital Management Inc. now owns 14,717 shares of the company’s stock worth $474,000 after acquiring an additional 434 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PRGO shares. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Piper Sandler reduced their price objective on shares of Perrigo from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, June 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th.

Insiders Place Their Bets

In other news, EVP Svend Andersen acquired 1,000 shares of Perrigo stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Perrigo Stock Performance

NYSE:PRGO opened at $25.61 on Friday. Perrigo Company plc has a twelve month low of $25.35 and a twelve month high of $40.28. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $29.31 and its two-hundred day moving average price is $30.66.

Perrigo (NYSE:PRGO) last announced its earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. Perrigo’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, equities research analysts predict that Perrigo Company plc will post 2.58 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, May 31st were paid a $0.276 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 4.31%. Perrigo’s dividend payout ratio is presently -1,571.43%.

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.