Boyar Asset Management Inc. Invests $734,000 in Perrigo Company plc (NYSE:PRGO)

Boyar Asset Management Inc. bought a new stake in shares of Perrigo Company plc (NYSE:PRGO) during the first quarter, Holdings Channel.com reports. The fund bought 26,186 shares of the company’s stock, valued at approximately $734,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PRGO. Price T Rowe Associates Inc. MD boosted its position in Perrigo by 6,828.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company’s stock worth $201,710,000 after purchasing an additional 7,732,309 shares in the last quarter. Norges Bank acquired a new position in shares of Perrigo during the 4th quarter worth approximately $36,614,000. Ion Asset Management Ltd. lifted its position in shares of Perrigo by 50.1% during the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company’s stock valued at $72,502,000 after buying an additional 941,667 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its stake in Perrigo by 111.6% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 1,097,192 shares of the company’s stock valued at $28,209,000 after acquiring an additional 578,597 shares during the period. Finally, Boone Capital Management LLC grew its stake in Perrigo by 126.1% in the 4th quarter. Boone Capital Management LLC now owns 1,022,369 shares of the company’s stock valued at $26,285,000 after acquiring an additional 570,148 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Price Performance

NYSE:PRGO opened at $26.66 on Thursday. The stock has a 50 day moving average of $26.26 and a two-hundred day moving average of $26.04. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $30.93. The firm has a market cap of $3.67 billion, a P/E ratio of -20.35 and a beta of 0.46. The company has a current ratio of 2.36, a quick ratio of 1.28 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $0.29 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. On average, analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, May 30th. Perrigo’s payout ratio is -88.55%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Saturday, May 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.00.

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.