Trexquant Investment LP Boosts Stock Position in Perrigo Company plc (NYSE:PRGO)

Trexquant Investment LP boosted its holdings in Perrigo Company plc (NYSE:PRGO) by 73.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,782 shares of the company’s stock after purchasing an additional 65,496 shares during the period. Trexquant Investment LP owned about 0.11% of Perrigo worth $4,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC bought a new stake in shares of Perrigo in the fourth quarter valued at $30,000. Parkside Financial Bank & Trust raised its stake in shares of Perrigo by 1,694.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock valued at $34,000 after buying an additional 983 shares during the period. Hexagon Capital Partners LLC bought a new stake in shares of Perrigo in the fourth quarter valued at $37,000. Blue Trust Inc. raised 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 valued at $50,000 after purchasing an additional 399 shares during the period. Finally, Fifth Third Bancorp raised 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 valued at $55,000 after purchasing an additional 485 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

PRGO has been the topic of a number of analyst reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Piper Sandler boosted their price objective on Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. decreased their price objective on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th.

Insider Transactions at Perrigo

In other news, EVP Robert Willis acquired 6,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the acquisition, the executive vice president now owns 25,105 shares of the company’s stock, valued at $649,466.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Robert Willis acquired 6,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the acquisition, the executive vice president now owns 25,105 shares of the company’s stock, valued at $649,466.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price 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 in the company, valued at approximately $544,070. The disclosure for this purchase can be found here. In the last three months, insiders bought 17,990 shares of company stock worth $475,227. 0.70% of the stock is currently owned by corporate insiders.

Perrigo Price Performance

Shares of NYSE PRGO opened at $29.33 on Thursday. The firm has a market capitalization of $4.00 billion, a P/E ratio of -419.00 and a beta of 0.63. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $31.08 and its two-hundred day simple moving average is $31.06. Perrigo Company plc has a twelve month low of $25.77 and a twelve month high of $40.28.

Perrigo (NYSE:PRGO) last announced its earnings results on Saturday, May 4th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. As a group, equities analysts anticipate that Perrigo Company plc will post 2.57 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be paid a $0.276 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.76%. Perrigo’s dividend payout ratio is currently -1,571.43%.

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.