Envestnet Asset Management Inc. Has $13.59 Million Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Envestnet Asset Management Inc. lifted its position in Perrigo Company plc (NYSE:PRGO) by 26.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,805 shares of the company’s stock after acquiring an additional 102,375 shares during the period. Envestnet Asset Management Inc.’s holdings in Perrigo were worth $13,594,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PRGO. Principal Financial Group Inc. raised its holdings in Perrigo by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock worth $8,800,000 after buying an additional 914 shares during the period. D.A. Davidson & CO. acquired a new stake in Perrigo during the 1st quarter worth approximately $1,619,000. GAMMA Investing LLC raised its holdings in Perrigo by 91.9% during the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock worth $103,000 after buying an additional 1,765 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in Perrigo during the 1st quarter worth approximately $1,526,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Perrigo by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company’s stock worth $31,645,000 after buying an additional 50,009 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Price Performance

Shares of PRGO opened at $26.95 on Friday. The stock has a market capitalization of $3.71 billion, a P/E ratio of -20.57 and a beta of 0.45. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $30.93. The company has a 50 day moving average of $26.82 and a 200-day moving average of $26.13. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Perrigo had a negative net margin of 4.16% and a positive return on equity of 8.93%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. As a group, equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.30%. Perrigo’s dividend payout ratio is presently -88.55%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Saturday, July 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.00.

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.