Teacher Retirement System of Texas Increases Holdings in Perrigo Company plc (NYSE:PRGO)

Teacher Retirement System of Texas boosted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,411 shares of the company’s stock after buying an additional 6,220 shares during the quarter. Teacher Retirement System of Texas’ holdings in Perrigo were worth $1,039,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in shares of Perrigo during the 3rd quarter valued at $3,717,000. Barclays PLC lifted its holdings in Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock valued at $3,160,000 after purchasing an additional 37,268 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Perrigo by 65.1% during the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company’s stock worth $14,190,000 after purchasing an additional 213,221 shares during the period. Citigroup Inc. increased its stake in shares of Perrigo by 94.1% in the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock worth $3,974,000 after purchasing an additional 73,457 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Perrigo in the third quarter valued at approximately $909,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Price Performance

PRGO stock opened at $28.06 on Friday. The firm has a 50 day simple moving average of $26.11 and a two-hundred day simple moving average of $26.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock has a market cap of $3.83 billion, a PE ratio of -23.98 and a beta of 0.48. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46.

Perrigo (NYSE:PRGO) last released its earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. On average, analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a $0.29 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.13%. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is currently -92.80%.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PRGO shares. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Finally, Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Perrigo presently has an average rating of “Hold” and a consensus price target of $33.00.

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.