Coronation Fund Managers Ltd. Invests $384,000 in Perrigo Company plc (NYSE:PRGO)

Coronation Fund Managers Ltd. purchased a new position in shares of Perrigo Company plc (NYSE:PRGO) during the first quarter, Holdings Channel.com reports. The fund purchased 11,931 shares of the company’s stock, valued at approximately $384,000.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Perrigo during the fourth quarter worth about $30,000. Parkside Financial Bank & Trust lifted its holdings in shares of Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after purchasing an additional 983 shares during the period. Hexagon Capital Partners LLC acquired a new stake in shares of Perrigo during the fourth quarter worth about $37,000. Central Pacific Bank Trust Division acquired a new stake in shares of Perrigo during the first quarter worth about $48,000. Finally, Blue Trust Inc. lifted its holdings in Perrigo by 34.5% in the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock valued at $50,000 after acquiring an additional 399 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Performance

NYSE:PRGO traded up $0.67 during trading hours on Wednesday, reaching $27.16. The company had a trading volume of 1,878,662 shares, compared to its average volume of 1,743,652. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. The firm has a market cap of $3.70 billion, a PE ratio of -388.00 and a beta of 0.51. The business’s 50 day moving average price is $28.01 and its 200-day moving average price is $30.27. Perrigo Company plc has a 1-year low of $24.82 and a 1-year 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 the consensus estimate of $0.23 by $0.06. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Research analysts forecast that Perrigo Company plc will post 2.58 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st were paid a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, May 31st. Perrigo’s payout ratio is -1,571.43%.

Insider Buying and Selling

In other news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PRGO has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Perrigo from $39.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, June 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Friday, April 12th. Finally, StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th.

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.