JPMorgan Chase & Co. Grows Stock Holdings in Perrigo Company plc (NYSE:PRGO)

JPMorgan Chase & Co. boosted its holdings in Perrigo Company plc (NYSE:PRGO) by 65.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 541,000 shares of the company’s stock after buying an additional 213,221 shares during the period. JPMorgan Chase & Co. owned 0.40% of Perrigo worth $14,190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of Perrigo during the third quarter worth about $56,000. KBC Group NV boosted its stake in Perrigo by 25.1% in the 3rd 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 period. Voisard Asset Management Group Inc. grew its holdings in Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock valued at $134,000 after buying an additional 450 shares in the last quarter. Atria Investments Inc purchased a new stake in Perrigo during the 3rd quarter valued at approximately $208,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Perrigo during the second quarter valued at approximately $213,000. 95.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. Jefferies Financial Group reissued a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler lowered 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 note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

Perrigo Trading Down 2.6 %

Shares of NYSE PRGO opened at $24.41 on Friday. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $33.96. 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 business’s 50 day moving average is $26.74 and its two-hundred day moving average is $26.80. The stock has a market capitalization of $3.33 billion, a P/E ratio of -20.86 and a beta of 0.53.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The firm 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 company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, research analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were paid a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.52%. Perrigo’s dividend payout ratio is presently -94.02%.

Insider Activity at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

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.