Public Employees Retirement Association of Colorado Has $399,000 Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Public Employees Retirement Association of Colorado decreased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,525 shares of the company’s stock after selling 740 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Perrigo were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Perrigo by 6,828.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock valued at $201,710,000 after acquiring an additional 7,732,309 shares during the period. Norges Bank acquired a new position in Perrigo during the 4th quarter valued at about $36,614,000. Bahl & Gaynor Inc. boosted its stake in shares of Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock valued at $39,213,000 after purchasing an additional 472,958 shares during the last quarter. Access Investment Management LLC acquired a new stake in shares of Perrigo during the 4th quarter worth approximately $7,989,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Perrigo by 65.1% during the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company’s stock worth $14,190,000 after buying an additional 213,221 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares of the company’s stock, valued at $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PRGO has been the subject of a number of analyst reports. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $27.00 in a 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 Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.00.

Perrigo Stock Performance

PRGO stock opened at $25.65 on Friday. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.46. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.50 billion, a PE ratio of -21.92 and a beta of 0.49. The business’s 50-day moving average price is $26.56 and its two-hundred day moving average price is $26.09.

Perrigo (NYSE:PRGO) last released its quarterly earnings data 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 business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. As a group, research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.52%. Perrigo’s payout ratio is -92.80%.

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.