JPMorgan Chase & Co. Purchases 213,221 Shares of Perrigo Company plc (NYSE:PRGO)

JPMorgan Chase & Co. raised its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 65.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,000 shares of the company's stock after acquiring an additional 213,221 shares during the quarter. JPMorgan Chase & Co. owned about 0.40% of Perrigo worth $14,190,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRGO. Venturi Wealth Management LLC bought a new position in shares of Perrigo in the 3rd quarter valued at about $56,000. KBC Group NV boosted its stake in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after purchasing an additional 905 shares during the last quarter. Voisard Asset Management Group Inc. boosted its stake in shares of Perrigo by 9.7% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company's stock valued at $134,000 after purchasing an additional 450 shares during the last quarter. Atria Investments Inc bought a new position in shares of Perrigo in the 3rd quarter valued at about $208,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Perrigo in the 2nd quarter valued at about $213,000. Institutional investors and hedge funds own 95.91% of the company's stock.

Perrigo Trading Down 2.6 %

NYSE PRGO traded down $0.64 during trading on Friday, reaching $24.41. 1,402,060 shares of the stock traded hands, compared to its average volume of 1,634,777. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -20.86 and a beta of 0.53. The stock's 50-day moving average price is $26.74 and its 200 day moving average price is $26.81. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a fifty-two week low of $23.89 and a fifty-two week high of $33.96.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly 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 company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Friday, November 29th. Perrigo's dividend payout ratio (DPR) is presently -94.02%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRGO. Piper Sandler lowered shares of Perrigo from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group restated 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. Finally, Canaccord Genuity Group restated a "buy" rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $35.00.

Insider Activity

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 value of $497,495.46. Following the sale, the director now owns 5,409 shares of the company's stock, valued at $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 SEC, which can be accessed through the SEC website. Corporate 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.