Perrigo Company plc (NYSE:PRGO) is Boone Capital Management LLC’s 3rd Largest Position

Boone Capital Management LLC boosted its position in shares of Perrigo Company plc (NYSE:PRGO) by 126.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,022,369 shares of the company’s stock after acquiring an additional 570,148 shares during the quarter. Perrigo accounts for approximately 8.9% of Boone Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Boone Capital Management LLC owned 0.75% of Perrigo worth $26,285,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Franklin Resources Inc. purchased a new stake in Perrigo during the 3rd quarter worth about $3,717,000. Barclays PLC increased its stake in shares of Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock worth $3,160,000 after buying an additional 37,268 shares during the period. JPMorgan Chase & Co. raised 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 acquiring an additional 213,221 shares in the last quarter. Access Investment Management LLC purchased a new position in Perrigo in the fourth quarter worth approximately $7,989,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Perrigo by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company’s stock worth $26,944,000 after acquiring an additional 13,835 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Trading Down 1.6 %

PRGO opened at $25.21 on Tuesday. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -21.55 and a beta of 0.45. The business’s 50 day moving average is $26.56 and its two-hundred day moving average is $26.11.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. On average, research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.60%. Perrigo’s payout ratio is currently -92.80%.

Insider Transactions at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at $923,795.04. This represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

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