Copeland Capital Management LLC Buys 465,161 Shares of Perrigo Company plc (NYSE:PRGO)

Copeland Capital Management LLC boosted its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 23.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,482,544 shares of the company's stock after buying an additional 465,161 shares during the quarter. Copeland Capital Management LLC owned approximately 1.82% of Perrigo worth $65,117,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in shares of Perrigo by 4,017.5% in the first quarter. SG Americas Securities LLC now owns 129,165 shares of the company's stock valued at $4,158,000 after acquiring an additional 126,028 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Perrigo by 6.7% in the first quarter. Russell Investments Group Ltd. now owns 807,147 shares of the company's stock worth $25,982,000 after purchasing an additional 50,871 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of Perrigo during the first quarter worth $2,425,000. AQR Capital Management LLC increased its stake in shares of Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock valued at $24,926,000 after buying an additional 845,470 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Perrigo by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company's stock valued at $482,517,000 after buying an additional 91,322 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Performance

Shares of Perrigo stock traded down $0.02 on Tuesday, hitting $25.83. 1,862,312 shares of the company's stock traded hands, compared to its average volume of 1,613,145. Perrigo Company plc has a one year low of $23.89 and a one year high of $34.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The firm's 50-day moving average price is $26.81 and its two-hundred day moving average price is $27.94.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The company's revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. Equities analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo's dividend payout ratio (DPR) is -119.57%.

Insider Activity at Perrigo

In other news, EVP Svend Andersen sold 28,300 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares of the company's stock, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Katherine C. Doyle sold 8,954 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the transaction, the director now directly owns 6,009 shares of the company's stock, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Svend Andersen sold 28,300 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares in the company, valued at $2,041,095.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,254 shares of company stock worth $1,411,969 in the last quarter. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Piper Sandler lowered their price target on shares of Perrigo from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, July 11th. Jefferies Financial Group reaffirmed 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, StockNews.com raised Perrigo from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Perrigo has an average rating of "Moderate Buy" and an average price target of $37.00.

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.