Elo Mutual Pension Insurance Co Invests $276,000 in Perrigo Company plc (NYSE:PRGO)

Elo Mutual Pension Insurance Co purchased a new stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,729 shares of the company's stock, valued at approximately $276,000.

Several other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in Perrigo by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock valued at $523,000 after acquiring an additional 427 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Perrigo by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company's stock valued at $567,000 after purchasing an additional 436 shares during the last quarter. Cedar Wealth Management LLC increased its position in shares of Perrigo by 2.1% during the 4th quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company's stock worth $565,000 after purchasing an additional 450 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after buying an additional 500 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Perrigo by 0.8% in the fourth quarter. Amalgamated Bank now owns 64,086 shares of the company's stock valued at $1,648,000 after buying an additional 522 shares in the last quarter. Institutional investors own 95.91% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

PRGO has been the topic of a number of recent analyst reports. Argus lowered Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Piper Sandler cut shares of Perrigo from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $34.00 to $27.00 in a report on Monday, January 6th. Finally, StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Perrigo has a consensus rating of "Hold" and an average price target of $33.00.

Perrigo Price Performance

PRGO stock traded down $0.77 during midday trading on Friday, reaching $26.13. 483,638 shares of the stock were exchanged, compared to its average volume of 1,497,061. The company has a fifty day moving average price of $26.38 and a 200 day moving average price of $26.18. The stock has a market capitalization of $3.57 billion, a PE ratio of -22.44 and a beta of 0.49. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. 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 (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. As a group, analysts expect 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. Investors of record on Friday, March 7th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.44%. This is a positive change from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. Perrigo's payout ratio is presently -92.80%.

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.