Fore Capital LLC Grows Stake in Perrigo Company plc (NYSE:PRGO)

Fore Capital LLC lifted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 35.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,000 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Fore Capital LLC’s holdings in Perrigo were worth $977,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in Perrigo by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company’s stock valued at $523,000 after purchasing an additional 427 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Perrigo by 2.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company’s stock worth $567,000 after acquiring an additional 436 shares during the period. Central Pacific Bank Trust Division increased its holdings in 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 acquiring an additional 500 shares during the last quarter. Amalgamated Bank lifted its holdings in Perrigo by 0.8% during the fourth quarter. Amalgamated Bank now owns 64,086 shares of the company’s stock valued at $1,648,000 after purchasing an additional 522 shares during the last quarter. Finally, KBC Group NV boosted its position in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares during the period. Institutional investors own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perrigo has a consensus rating of “Hold” and a consensus price target of $33.00.

Perrigo Stock Down 1.4 %

PRGO opened at $27.50 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46. The firm has a market capitalization of $3.75 billion, a P/E ratio of -23.50 and a beta of 0.48. The company has a fifty day moving average price of $25.38 and a 200-day moving average price of $26.22.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Equities research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.22%. Perrigo’s payout ratio is presently -92.80%.

Insiders Place Their Bets

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the sale, the executive vice president now owns 33,666 shares of the company’s stock, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.