Bank of New York Mellon Corp Cuts Stock Position in Perrigo Company plc $PRGO

Bank of New York Mellon Corp trimmed its position in Perrigo Company plc (NYSE:PRGO) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 970,692 shares of the company’s stock after selling 13,249 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Perrigo worth $25,937,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in shares of Perrigo by 439.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after acquiring an additional 786 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Perrigo by 54.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 424 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Perrigo by 101.0% during the second quarter. Hantz Financial Services Inc. now owns 1,234 shares of the company’s stock worth $33,000 after purchasing an additional 620 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Perrigo in the first quarter valued at $42,000. Finally, Blue Trust Inc. increased its position in shares of Perrigo by 35.2% in the second quarter. Blue Trust Inc. now owns 3,542 shares of the company’s stock valued at $95,000 after buying an additional 923 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In related news, Director Geoffrey M. Parker bought 7,500 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $14.18 per share, for a total transaction of $106,350.00. Following the completion of the acquisition, the director owned 17,375 shares in the company, valued at $246,377.50. This trade represents a 75.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Willis purchased 1,488 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $24.10 per share, for a total transaction of $35,860.80. Following the purchase, the executive vice president owned 41,939 shares of the company’s stock, valued at $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 17,618 shares of company stock valued at $339,049 in the last ninety days. 0.70% of the stock is owned by company insiders.

Perrigo Trading Down 1.5%

Shares of PRGO opened at $13.77 on Friday. Perrigo Company plc has a fifty-two week low of $13.46 and a fifty-two week high of $30.93. The company has a market capitalization of $1.89 billion, a PE ratio of -23.73 and a beta of 0.42. The stock has a fifty day moving average of $20.42 and a two-hundred day moving average of $24.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 2.32.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Perrigo has set its FY 2025 guidance at 2.700-2.80 EPS. As a group, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Friday, November 28th. Perrigo’s dividend payout ratio is presently -305.26%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PRGO shares. Wall Street Zen cut shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price target (down from $32.00) on shares of Perrigo in a research report on Thursday, November 6th. Canaccord Genuity Group cut their price objective on Perrigo from $40.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Zacks Research lowered Perrigo from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Perrigo in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $22.50.

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.