Reynders McVeigh Capital Management LLC Has $5.78 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

Reynders McVeigh Capital Management LLC lowered its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 14.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 224,871 shares of the company's stock after selling 37,104 shares during the period. Reynders McVeigh Capital Management LLC owned 0.16% of Perrigo worth $5,781,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PRGO. Quantinno Capital Management LP grew its position in shares of Perrigo by 105.2% during the 3rd quarter. Quantinno Capital Management LP now owns 19,695 shares of the company's stock worth $517,000 after purchasing an additional 10,097 shares in the last quarter. Stifel Financial Corp raised its holdings in Perrigo by 11.0% in the 3rd quarter. Stifel Financial Corp now owns 133,278 shares of the company's stock valued at $3,496,000 after acquiring an additional 13,249 shares in the last quarter. MML Investors Services LLC increased its position in shares of Perrigo by 7.7% in the third quarter. MML Investors Services LLC now owns 39,174 shares of the company's stock worth $1,028,000 after purchasing an additional 2,811 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Perrigo during the third quarter worth about $1,291,000. Finally, Barclays PLC raised its position in shares of Perrigo by 44.8% in the 3rd 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. 95.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Perrigo Trading Up 0.8 %

Shares of PRGO traded up $0.21 during mid-day trading on Friday, reaching $25.35. 848,405 shares of the company were exchanged, compared to its average volume of 1,522,946. 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 52 week low of $23.14 and a 52 week high of $33.46. The business has a 50 day simple moving average of $26.46 and a two-hundred day simple moving average of $26.04. The stock has a market capitalization of $3.46 billion, a PE ratio of -21.66 and a beta of 0.49.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share 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 the consensus estimate of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. On average, analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.58%. This is a boost from Perrigo's previous quarterly dividend of $0.28. Perrigo's dividend payout ratio (DPR) is currently -92.80%.

Insiders Place Their Bets

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the sale, the executive vice president now directly owns 33,666 shares of the company's stock, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.