State of New Jersey Common Pension Fund D Sells 493 Shares of Perrigo Company plc (NYSE:PRGO)

State of New Jersey Common Pension Fund D cut its stake in shares of Perrigo Company plc (NYSE:PRGO) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,884 shares of the company’s stock after selling 493 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Perrigo were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Invenomic Capital Management LP acquired a new stake in shares of Perrigo during the first quarter valued at about $2,425,000. AQR Capital Management LLC boosted its position in Perrigo by 675.5% during the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock worth $24,926,000 after buying an additional 845,470 shares during the period. Tidal Investments LLC grew its holdings in Perrigo by 423.8% during the 1st quarter. Tidal Investments LLC now owns 77,254 shares of the company’s stock worth $2,478,000 after acquiring an additional 62,504 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Perrigo by 3.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 655,974 shares of the company’s stock valued at $16,845,000 after acquiring an additional 23,835 shares during the period. Finally, O Keefe Stevens Advisory Inc. raised its stake in shares of Perrigo by 36.8% during the third quarter. O Keefe Stevens Advisory Inc. now owns 182,516 shares of the company’s stock valued at $4,787,000 after acquiring an additional 49,075 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the transaction, the executive vice president now owns 20,553 shares in the company, valued at approximately $604,258.20. This represents a 38.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction dated 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. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Perrigo Stock Performance

Shares of Perrigo stock opened at $26.88 on Tuesday. The business has a 50-day moving average price of $25.97 and a two-hundred day moving average price of $27.21. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.67 billion, a P/E ratio of -22.97 and a beta of 0.48.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates 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 revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 4.11%. Perrigo’s dividend payout ratio is currently -94.02%.

Analysts Set New Price Targets

Several analysts recently weighed in on PRGO shares. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

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.