Perpetual Ltd Decreases Stake in Perrigo Company plc (NYSE:PRGO)

Perpetual Ltd cut its holdings in Perrigo Company plc (NYSE:PRGO) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,401,407 shares of the company’s stock after selling 46,600 shares during the period. Perpetual Ltd’s holdings in Perrigo were worth $61,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PRGO. Versant Capital Management Inc bought a new stake in Perrigo in the fourth quarter worth about $45,000. GAMMA Investing LLC increased its stake in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC purchased a new position in Perrigo in the third quarter valued at approximately $56,000. Finally, KBC Group NV grew its holdings in Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $30.00 price objective (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Four 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 stock has an average rating of “Hold” and an average target price of $35.00.

Perrigo Trading Up 0.0 %

PRGO stock opened at $23.86 on Tuesday. The stock has a 50-day simple moving average of $26.43 and a two-hundred day simple moving average of $26.72. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.96. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. Perrigo’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were paid a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 4.63%. The ex-dividend date was Friday, November 29th. Perrigo’s dividend payout ratio is -94.02%.

Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by company insiders.

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.