Alaska Permanent Fund Corp Buys 14,593 Shares of Perrigo Company plc (NYSE:PRGO)

Alaska Permanent Fund Corp lifted its stake in shares of Perrigo Company plc (NYSE:PRGO) by 16,773.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,680 shares of the company’s stock after acquiring an additional 14,593 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Perrigo were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PRGO. Qube Research & Technologies Ltd bought a new stake in Perrigo in the third quarter worth approximately $5,447,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Perrigo in the third quarter worth approximately $2,006,000. Teachers Retirement System of The State of Kentucky increased its holdings in Perrigo by 94.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 46,118 shares of the company’s stock worth $1,473,000 after purchasing an additional 22,354 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Perrigo by 4.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock worth $310,000 after purchasing an additional 380 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Perrigo by 170.5% in the third quarter. Blair William & Co. IL now owns 25,023 shares of the company’s stock worth $799,000 after purchasing an additional 15,774 shares in the last quarter. 95.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRGO has been the subject of a number of research reports. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th. JPMorgan Chase & Co. reduced their price objective on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler raised 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.

Perrigo Stock Performance

Shares of NYSE:PRGO opened at $31.94 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. Perrigo Company plc has a 12-month low of $25.77 and a 12-month high of $40.28. The business’s 50 day moving average is $30.52 and its 200 day moving average is $30.80.

Perrigo (NYSE:PRGO) last announced its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. Perrigo’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts predict that Perrigo Company plc will post 2.55 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were given a dividend of $0.276 per share. This is a boost from Perrigo’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.10 annualized dividend and a dividend yield of 3.46%. Perrigo’s payout ratio is presently -1,100.00%.

Insiders Place Their Bets

In other Perrigo news, EVP Robert Willis acquired 6,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the transaction, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the purchase, the chief executive officer now directly owns 20,500 shares in the company, valued at approximately $544,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Willis bought 6,000 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the purchase, the executive vice president now owns 25,105 shares of the company’s stock, valued at $649,466.35. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 17,990 shares of company stock valued at $475,227. Insiders own 0.70% of the company’s stock.

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.