Boyar Asset Management Inc. Takes $734,000 Position in Perrigo Company plc (NYSE:PRGO)

Boyar Asset Management Inc. acquired a new stake in Perrigo Company plc (NYSE:PRGO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,186 shares of the company’s stock, valued at approximately $734,000.

A number of other institutional investors also recently bought and sold shares of the stock. Headlands Technologies LLC raised its holdings in shares of Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock worth $36,000 after buying an additional 1,340 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Perrigo by 176.9% in the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company’s stock valued at $48,000 after acquiring an additional 1,095 shares during the period. Fifth Third Bancorp raised its stake in Perrigo by 62.0% in the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company’s stock worth $62,000 after acquiring an additional 849 shares during the last quarter. Blue Trust Inc. lifted its position in Perrigo by 110.4% during the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company’s stock worth $73,000 after acquiring an additional 1,374 shares during the period. Finally, Central Pacific Bank Trust Division grew its stake in Perrigo by 50.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the company’s stock valued at $84,000 after purchasing an additional 1,000 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Stock Down 0.3%

PRGO stock opened at $26.66 on Thursday. The company has a market capitalization of $3.67 billion, a P/E ratio of -20.35 and a beta of 0.46. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $30.93. The firm’s fifty day simple moving average is $26.26 and its 200-day simple moving average is $26.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.28.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.35%. Perrigo’s payout ratio is -88.55%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Perrigo from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.00.

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.