State of New Jersey Common Pension Fund D Decreases Holdings in Perrigo Company plc (NYSE:PRGO)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 21.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,377 shares of the company’s stock after selling 18,291 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of Perrigo worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Perrigo in the fourth quarter valued at approximately $41,982,000. National Bank of Canada FI bought a new stake in shares of Perrigo in the first quarter worth $19,040,000. Public Employees Retirement Association of Colorado lifted its holdings in Perrigo by 3,796.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 582,216 shares of the company’s stock worth $18,736,000 after buying an additional 567,274 shares during the last quarter. Perpetual Ltd raised its holdings in shares of Perrigo by 20.5% during the first quarter. Perpetual Ltd now owns 2,780,984 shares of the company’s stock worth $87,490,000 after purchasing an additional 472,245 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in Perrigo by 10.1% in the first 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 during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PRGO shares. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research report on Monday. Finally, Piper Sandler lowered their price target on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Perrigo presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Perrigo Price Performance

NYSE PRGO opened at $26.54 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $3.62 billion, a PE ratio of -379.07 and a beta of 0.49. Perrigo Company plc has a 12-month low of $24.82 and a 12-month high of $34.60. The company has a 50 day moving average price of $27.92 and a two-hundred day moving average price of $28.76.

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

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were given a dividend of $0.276 per share. The ex-dividend date was Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.16%. Perrigo’s payout ratio is currently -1,571.43%.

Insider Buying and Selling at Perrigo

In related news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Katherine C. Doyle sold 8,954 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction 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 transaction, 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. Insiders have sold a total of 50,254 shares of company stock worth $1,411,969 over the last 90 days. Insiders own 0.70% of the company’s stock.

Perrigo 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.