Fox Run Management L.L.C. Boosts Position in Perrigo Company plc (NYSE:PRGO)

Fox Run Management L.L.C. raised its stake in Perrigo Company plc (NYSE:PRGO) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,381 shares of the company’s stock after purchasing an additional 548 shares during the period. Fox Run Management L.L.C.’s holdings in Perrigo were worth $293,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. acquired a new stake in Perrigo during the 3rd quarter worth $3,717,000. Barclays PLC boosted 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. grew its holdings 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. Citigroup Inc. increased its position in Perrigo by 94.1% in the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after acquiring an additional 73,457 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Perrigo during the 3rd quarter valued at approximately $909,000. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Performance

NYSE:PRGO opened at $27.74 on Friday. The stock has a market cap of $3.79 billion, a PE ratio of -23.71 and a beta of 0.48. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46. The firm’s fifty day simple moving average is $26.03 and its 200-day simple moving average is $26.16. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company 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%. Analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Analysts Set New Price Targets

PRGO has been the topic of several analyst reports. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Finally, Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perrigo has a consensus rating of “Hold” and an average price target of $33.00.

Insider Transactions at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the 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 sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

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.