First Eagle Investment Management LLC Acquires Shares of 57,019 Perrigo Company plc (NYSE:PRGO)

First Eagle Investment Management LLC bought a new stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57,019 shares of the company's stock, valued at approximately $1,466,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new position in Perrigo during the third quarter valued at $3,717,000. Foundry Partners LLC purchased a new position in Perrigo in the third quarter valued at $7,111,000. Barclays PLC increased its holdings in Perrigo by 44.8% in the third quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after buying an additional 37,268 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Perrigo by 65.1% in the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock valued at $14,190,000 after buying an additional 213,221 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Perrigo by 94.1% in the third quarter. Citigroup Inc. now owns 151,520 shares of the company's stock valued at $3,974,000 after buying an additional 73,457 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Price Performance

Shares of PRGO stock traded up $0.60 on Thursday, reaching $28.48. 2,025,663 shares of the company were exchanged, compared to its average volume of 1,435,987. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -24.34 and a beta of 0.48. The business has a 50-day moving average price of $25.59 and a 200 day moving average price of $26.17. 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 1 year low of $23.14 and a 1 year high of $33.46.

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Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Equities research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.07%. Perrigo's payout ratio is presently -92.80%.

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the business'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 directly owns 33,666 shares in the company, valued at $923,795.04. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PRGO has been the subject of a number of recent analyst reports. Argus cut shares of 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 cut their price objective for the company from $34.00 to $27.00 in a report on Monday, January 6th. Finally, StockNews.com cut shares of Perrigo from a "buy" rating to a "hold" rating in a 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, the company 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.