A significant shift in corporate equity holdings has come to light with Cwm LLC dramatically boosting its position in Perrigo Company plc (PRGO), as detailed in its latest SEC filing. This substantial acquisition underscores a growing institutional interest in the pharmaceutical and consumer health company, prompting a closer look at the broader investment landscape surrounding Perrigo stock.
Cwm LLC’s strategic move saw a remarkable 361.8% increase in its stake during the first quarter. The firm acquired an additional 3,137 shares, bringing its total ownership to 4,004 PRGO shares, valued at approximately $112,000 at the quarter’s close. This aggressive accumulation by Cwm LLC highlights a bullish sentiment from certain institutional investors regarding Perrigo’s future prospects.
Beyond Cwm LLC, other major investment firms have also adjusted their portfolios concerning Perrigo. Principal Financial Group Inc., for instance, subtly grew its holdings by 0.3% in the first quarter, now commanding 313,849 shares worth $8.8 million after a modest acquisition of 914 shares. These incremental changes by established players offer a nuanced view of the stock market analysis for Perrigo.
New entrants and substantial increases were also notable. D.A. Davidson & CO. made its debut with a new stake in Perrigo valued at approximately $1.619 million during the first quarter. Similarly, GAMMA Investing LLC exhibited significant confidence, lifting its holdings by 91.9% to 3,685 shares, valued at $103,000, by adding 1,765 shares.
Further institutional activity includes Beach Investment Counsel Inc. PA establishing a new position worth $1.526 million in the first quarter. Allspring Global Investments Holdings LLC also expanded its stake by 4.6%, accumulating an additional 50,009 shares to reach 1,142,407 shares, valued at $31.645 million. Collectively, hedge fund and other institutional investor ownership accounts for a substantial 95.91% of Perrigo’s stock, illustrating deep institutional engagement.
From a financial performance perspective, Perrigo opened at $27.54, with a market capitalization of $3.79 billion. The company’s financial health is further characterized by a P/E ratio of -21.02 and a beta of 0.45, reflecting specific market dynamics. Its 50-day simple moving average stands at $27.00, while the 200-day average is $26.27, providing key technical indicators for stock performance.
Perrigo recently announced a quarterly corporate dividend of $0.29 per share, payable on September 16th to investors of record on August 29th. This translates to an annualized dividend of $1.16 and a yield of 4.21%, despite a dividend payout ratio (DPR) of -88.55%, which can be indicative of specific accounting treatments or reinvestment strategies.
Analyst sentiment has seen some recalibration, with one firm downgrading Perrigo from a “buy” to a “hold” rating in late July. Currently, four investment analysts recommend a “hold” and one a “buy,” resulting in an average “Hold” rating for Perrigo with an average price target of $33.00, as reported by MarketBeat.
Perrigo Company plc is a global leader in providing over-the-counter health and wellness solutions across the United States, Europe, and other international markets. Operating through its Consumer Self-Care Americas and Consumer Self-Care International segments, the company offers a diverse range of self-care products, including upper respiratory, nutrition, digestive health, pain and sleep-aids, and oral care products, underpinning its market relevance in the consumer health sector.
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