M&R Capital Management Inc. Increases Holdings in Perrigo Company plc (NYSE:PRGO)

M&R Capital Management Inc. grew its stake in shares of Perrigo Company plc (NYSE:PRGO) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,717 shares of the company’s stock after buying an additional 434 shares during the quarter. M&R Capital Management Inc.’s holdings in Perrigo were worth $474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NBC Securities Inc. boosted its holdings in shares of Perrigo by 3.5% during the fourth quarter. NBC Securities Inc. now owns 9,983 shares of the company’s stock worth $321,000 after purchasing an additional 340 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Perrigo by 4.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after purchasing an additional 380 shares in the last quarter. Blue Trust Inc. increased its position in shares of Perrigo by 34.5% during the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after buying an additional 399 shares during the period. Xponance Inc. raised its stake in Perrigo by 2.1% in the fourth quarter. Xponance Inc. now owns 20,153 shares of the company’s stock worth $649,000 after buying an additional 410 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Perrigo by 25.6% during the 4th quarter. Signaturefd LLC now owns 2,240 shares of the company’s stock valued at $72,000 after acquiring an additional 457 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In other news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $27.90 per share, with a total value of $27,900.00. Following the completion of the purchase, the executive vice president now owns 101,853 shares in the company, valued at $2,841,698.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Perrigo Stock Performance

NYSE PRGO traded down $0.64 on Tuesday, reaching $25.59. 781,820 shares of the stock were exchanged, compared to its average volume of 1,758,456. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 0.77. Perrigo Company plc has a one year low of $25.57 and a one year high of $40.28. The firm has a market capitalization of $3.49 billion, a PE ratio of -373.86 and a beta of 0.56. The company’s 50-day simple moving average is $29.68 and its two-hundred day simple moving average is $30.77.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Saturday, May 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $0.45 EPS. The company’s revenue was down 8.4% on a year-over-year basis. Analysts expect that Perrigo Company plc will post 2.58 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Friday, May 31st. Perrigo’s dividend payout ratio (DPR) is currently -1,571.43%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th. Finally, Piper Sandler lowered their price objective on Perrigo from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, June 13th.

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.