ProShare Advisors LLC Has $26.14 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

ProShare Advisors LLC raised its position in Perrigo Company plc (NYSE:PRGO) by 12.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,017,909 shares of the company’s stock after acquiring an additional 116,214 shares during the period. ProShare Advisors LLC owned approximately 0.75% of Perrigo worth $26,140,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Perrigo by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company’s stock worth $482,517,000 after purchasing an additional 91,322 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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. Cooke & Bieler LP raised its position in Perrigo by 0.9% in the 2nd quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock valued at $89,916,000 after buying an additional 30,150 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Perrigo by 10.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,449,352 shares of the company’s stock valued at $111,035,000 after acquiring an additional 317,552 shares in the last quarter. Finally, Perpetual Ltd boosted its holdings in Perrigo by 20.5% during the 1st quarter. Perpetual Ltd now owns 2,780,984 shares of the company’s stock worth $87,490,000 after acquiring an additional 472,245 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 0.2 %

PRGO opened at $27.07 on Tuesday. The company’s 50-day moving average price is $27.93 and its two-hundred day moving average price is $28.79. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. Perrigo Company plc has a twelve month low of $24.82 and a twelve month high of $34.60. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -386.71 and a beta of 0.49.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.07. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. As a group, equities analysts expect that Perrigo Company plc will post 2.57 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were given a $0.276 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.08%. Perrigo’s dividend payout ratio (DPR) is currently -1,571.43%.

Insider Activity at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,254 shares of company stock valued at $1,411,969. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PRGO shares. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a research report on Monday. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Finally, Piper Sandler decreased their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.