Perrigo Company plc (NYSE:PRGO) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in shares of Perrigo Company plc (NYSE:PRGO) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,727 shares of the company’s stock after selling 4,324 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Perrigo worth $1,934,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PRGO. Nicola Wealth Management LTD. grew its holdings in Perrigo by 59.0% in the 3rd quarter. Nicola Wealth Management LTD. now owns 159,000 shares of the company’s stock valued at $4,171,000 after buying an additional 59,000 shares during the last quarter. KBC Group NV grew its position in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the period. Victory Capital Management Inc. boosted its position in Perrigo by 1.2% in the third quarter. Victory Capital Management Inc. now owns 1,422,288 shares of the company’s stock valued at $37,307,000 after buying an additional 16,735 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Perrigo during the 3rd quarter worth approximately $56,000. Finally, Atria Investments Inc bought a new position in shares of Perrigo in the third quarter valued at about $208,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Perrigo Stock Performance

Shares of PRGO stock opened at $28.07 on Monday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo Company plc has a 52 week low of $23.89 and a 52 week high of $34.60. The company has a 50-day simple moving average of $25.98 and a 200 day simple moving average of $27.08.

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, hitting analysts’ consensus estimates of $0.81. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, sell-side analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a dividend yield of 3.93%. Perrigo’s payout ratio is -94.02%.

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.