New York State Common Retirement Fund Has $11.57 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

New York State Common Retirement Fund cut its stake in Perrigo Company plc (NYSE:PRGO) by 2.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 449,853 shares of the company’s stock after selling 10,249 shares during the quarter. New York State Common Retirement Fund’s holdings in Perrigo were worth $11,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PRGO. Versant Capital Management Inc bought a new stake in Perrigo in the fourth quarter valued at $45,000. GAMMA Investing LLC grew its holdings in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo during the 3rd quarter worth about $56,000. Finally, KBC Group NV lifted its holdings in Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Insider Activity

In other news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRGO. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.00.

Perrigo Price Performance

Shares of PRGO stock opened at $25.22 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -21.55 and a beta of 0.54. The firm’s 50 day moving average is $24.94 and its 200-day moving average is $26.22. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.60%. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. Perrigo’s dividend payout ratio (DPR) is presently -99.15%.

Perrigo Company 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.