Perrigo Company plc (NYSE:PRGO) Shares Bought by XTX Topco Ltd

XTX Topco Ltd raised its stake in shares of Perrigo Company plc (NYSE:PRGO) by 536.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,509 shares of the company’s stock after purchasing an additional 52,695 shares during the period. XTX Topco Ltd’s holdings in Perrigo were worth $1,640,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in Perrigo in the 3rd quarter valued at about $56,000. KBC Group NV raised its holdings in shares of Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the last quarter. Voisard Asset Management Group Inc. lifted its position in shares of Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after acquiring an additional 3,900 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Perrigo in the third quarter worth approximately $208,000. Finally, CWM LLC increased its position in shares of Perrigo by 877.0% during the second quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after purchasing an additional 7,358 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Performance

NYSE PRGO opened at $28.07 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock’s fifty day moving average is $26.30 and its two-hundred day moving average is $26.99. The firm has a market capitalization of $3.83 billion, a P/E ratio of -23.99 and a beta of 0.52. Perrigo Company plc has a fifty-two week low of $23.89 and a fifty-two week high of $34.60.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.93%. Perrigo’s dividend payout ratio is currently -94.02%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PRGO. Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Finally, StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.