New York State Teachers Retirement System Cuts Stock Holdings in Perrigo Company plc (NYSE:PRGO)

New York State Teachers Retirement System decreased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,189 shares of the company’s stock after selling 9,415 shares during the period. New York State Teachers Retirement System owned about 0.11% of Perrigo worth $3,913,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc purchased a new position in Perrigo in the fourth quarter worth $45,000. GAMMA Investing LLC boosted its position in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Perrigo in the third quarter worth $56,000. Finally, KBC Group NV boosted its position in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Trading Up 1.7 %

Shares of PRGO stock opened at $25.22 on Friday. The stock has a market capitalization of $3.44 billion, a PE ratio of -21.55 and a beta of 0.54. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.46. The business has a 50-day moving average of $25.01 and a 200 day moving average of $26.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.60%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Analyst Ratings Changes

PRGO has been the topic of a number of recent research reports. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Insiders Place Their Bets

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.