Perrigo Company plc (NYSE:PRGO) Stock Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 58.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,039,702 shares of the company's stock after buying an additional 383,728 shares during the period. Allspring Global Investments Holdings LLC owned 0.76% of Perrigo worth $27,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Perrigo by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company's stock valued at $482,517,000 after purchasing an additional 91,322 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Perrigo by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company's stock valued at $183,935,000 after buying an additional 249,640 shares during the period. Deprince Race & Zollo Inc. raised its holdings in shares of Perrigo by 11.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock valued at $99,701,000 after buying an additional 391,646 shares during the period. Cooke & Bieler LP raised its holdings in shares of Perrigo by 0.9% during the 2nd quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company's stock valued at $89,916,000 after buying an additional 30,150 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in shares of Perrigo by 10.1% during the 1st quarter. DAVENPORT & Co LLC now owns 3,449,352 shares of the company's stock valued at $111,035,000 after buying an additional 317,552 shares during the period. 95.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group reiterated a "hold" rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Piper Sandler dropped their target price on Perrigo from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, July 11th. 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Perrigo has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Perrigo Stock Down 1.2 %

PRGO stock traded down $0.31 during midday trading on Thursday, hitting $25.08. 1,313,749 shares of the company's stock were exchanged, compared to its average volume of 1,613,752. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. Perrigo Company plc has a 12-month low of $23.89 and a 12-month high of $34.60. The firm has a 50 day moving average price of $26.71 and a 200-day moving average price of $27.86. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -27.26 and a beta of 0.48.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.63 EPS. The business's quarterly revenue was down 10.7% on a year-over-year basis. On average, analysts anticipate 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, September 17th. Stockholders of record on Friday, August 30th were issued a $0.276 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.40%. Perrigo's dividend payout ratio (DPR) is -119.57%.

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.