Cooke & Bieler LP Has $91.88 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

Cooke & Bieler LP raised its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,573,651 shares of the company’s stock after purchasing an additional 139,650 shares during the period. Cooke & Bieler LP owned 2.62% of Perrigo worth $91,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PRGO. Wellington Management Group LLP lifted its position in Perrigo by 229.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares during the period. FMR LLC lifted its position in Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock valued at $48,271,000 after purchasing an additional 1,837,538 shares during the period. Bahl & Gaynor Inc. increased its stake in shares of Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock valued at $39,213,000 after acquiring an additional 472,958 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Perrigo in the 3rd quarter valued at about $8,892,000. Finally, Access Investment Management LLC bought a new stake in shares of Perrigo in the 4th quarter valued at about $7,989,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Trading Down 1.0 %

NYSE PRGO opened at $27.48 on Tuesday. The company has a market cap of $3.75 billion, a PE ratio of -23.49 and a beta of 0.48. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. The stock has a 50 day moving average of $25.30 and a 200-day moving average of $26.22.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. On average, equities research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. This is an increase from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.22%. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.