Mutual of America Capital Management LLC Sells 4,284 Shares of Perrigo Company plc (NYSE:PRGO)

Mutual of America Capital Management LLC trimmed its stake in Perrigo Company plc (NYSE:PRGO) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,729 shares of the company’s stock after selling 4,284 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Perrigo worth $2,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PRGO. Dark Forest Capital Management LP bought a new position in shares of Perrigo during the 1st quarter worth approximately $31,000. Ronald Blue Trust Inc. boosted its stake in shares of Perrigo by 132.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company’s stock worth $39,000 after acquiring an additional 659 shares during the period. Blue Trust Inc. boosted its stake in shares of Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after acquiring an additional 399 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Perrigo by 345.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,430 shares of the company’s stock worth $51,000 after acquiring an additional 1,109 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Perrigo by 39.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock worth $55,000 after acquiring an additional 485 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Performance

PRGO opened at $29.94 on Friday. The business has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $30.78. The company has a market capitalization of $4.06 billion, a PE ratio of -299.40 and a beta of 0.64. Perrigo Company plc has a 1 year low of $25.77 and a 1 year high of $40.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. Research analysts expect that Perrigo Company plc will post 2.55 EPS for the current year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were issued a $0.276 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 3.69%. Perrigo’s payout ratio is currently -1,100.00%.

Insider Buying and Selling at Perrigo

In related news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $26.54 per share, with a total value of $252,130.00. Following the acquisition, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at $544,070. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average cost of $26.54 per share, with a total value of $252,130.00. Following the acquisition, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at $544,070. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alison Ives purchased 2,490 shares of the stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $27.26 per share, with a total value of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The disclosure for this purchase can be found here. Insiders purchased 17,990 shares of company stock valued at $475,227 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 target price on shares of Perrigo in a research note on Friday, April 12th. JPMorgan Chase & Co. reduced their target price on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Piper Sandler boosted their price target on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, April 8th.

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.