Louisiana State Employees Retirement System Makes New Investment in Perrigo Company plc (NYSE:PRGO)

Louisiana State Employees Retirement System acquired a new position in shares of Perrigo Company plc (NYSE:PRGO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 38,100 shares of the company’s stock, valued at approximately $1,226,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ronald Blue Trust Inc. increased its position 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 purchasing an additional 659 shares during the last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 399 shares during the last quarter. Fifth Third Bancorp increased its position 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 purchasing an additional 485 shares during the last quarter. TFC Financial Management Inc. acquired a new stake in shares of Perrigo during the 3rd quarter worth about $78,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Perrigo during the 3rd quarter worth about $97,000. 95.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Perrigo

In other Perrigo news, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at approximately $544,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Alison Ives purchased 2,490 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the purchase, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at $439,485.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $26.54 per share, with a total value of $252,130.00. Following the purchase, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at $544,070. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 17,990 shares of company stock valued at $475,227. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Friday, April 12th. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler raised their target price on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th.

Perrigo Stock Performance

Shares of PRGO opened at $30.06 on Tuesday. The stock has a 50-day simple moving average of $30.58 and a 200-day simple moving average of $30.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79. The stock has a market capitalization of $4.07 billion, a PE ratio of -300.60 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.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data 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 analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, analysts predict that Perrigo Company plc will post 2.55 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Thursday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.27. Perrigo’s dividend payout ratio (DPR) is presently -1,100.00%.

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.