Perrigo Company plc (NYSE:PRGO) is Highland Peak Capital LLC’s 5th Largest Position

Highland Peak Capital LLC cut its stake in shares of Perrigo Company plc (NYSE:PRGO) by 60.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 420,608 shares of the company’s stock after selling 643,093 shares during the quarter. Perrigo makes up approximately 8.7% of Highland Peak Capital LLC’s investment portfolio, making the stock its 5th biggest holding. Highland Peak Capital LLC’s holdings in Perrigo were worth $13,535,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in Perrigo during the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust increased its holdings in Perrigo by 1,694.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock valued at $34,000 after buying an additional 983 shares during the period. Hexagon Capital Partners LLC purchased a new position in Perrigo during the fourth quarter valued at approximately $37,000. Blue Trust Inc. boosted its stake 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 in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Perrigo by 39.5% in the third quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock valued at $55,000 after acquiring an additional 485 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PRGO shares. Piper Sandler raised their target price on shares of Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th.

Perrigo Stock Performance

Shares of NYSE:PRGO traded down $0.24 on Friday, hitting $27.88. 1,808,456 shares of the company were exchanged, compared to its average volume of 1,769,052. Perrigo Company plc has a 1-year low of $25.77 and a 1-year high of $40.28. The stock’s 50 day moving average price is $31.02 and its 200 day moving average price is $31.04. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $3.80 billion, a P/E ratio of -398.29 and a beta of 0.63.

Perrigo (NYSE:PRGO) last posted its earnings results on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Perrigo Company plc will post 2.57 EPS for the current year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, May 31st will be given a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.96%. Perrigo’s dividend payout ratio is presently -1,571.43%.

Insider Activity at Perrigo

In other Perrigo news, EVP Alison Ives bought 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the transaction, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Robert Willis acquired 6,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $25.87 per share, with a total value of $155,220.00. Following the completion of the acquisition, the executive vice president now owns 25,105 shares of the company’s stock, valued at $649,466.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alison Ives acquired 2,490 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was purchased at an average cost of $27.26 per share, with a total value of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The disclosure for this purchase can be found here. Insiders acquired 17,990 shares of company stock worth $475,227 over the last three months. Company 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.