Clear Harbor Asset Management LLC Cuts Position in Perrigo Company plc (NYSE:PRGO)

Clear Harbor Asset Management LLC reduced its stake in shares of Perrigo Company plc (NYSE:PRGO) by 37.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,605 shares of the company’s stock after selling 20,410 shares during the period. Clear Harbor Asset Management LLC’s holdings in Perrigo were worth $890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in Perrigo during the third quarter worth about $3,717,000. Barclays PLC boosted its stake in shares of Perrigo by 44.8% during the 3rd quarter. Barclays PLC now owns 120,502 shares of the company’s stock worth $3,160,000 after acquiring an additional 37,268 shares in the last quarter. Foundry Partners LLC acquired a new stake in shares of Perrigo in the 3rd quarter worth approximately $7,111,000. AQR Capital Management LLC increased its stake in Perrigo by 675.5% in the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company’s stock valued at $24,926,000 after purchasing an additional 845,470 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Perrigo by 94.1% in the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock valued at $3,974,000 after purchasing an additional 73,457 shares in the last quarter. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Trading Up 2.5 %

Shares of PRGO stock opened at $24.44 on Wednesday. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of -20.88 and a beta of 0.53. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $26.39 and a 200 day moving average price of $26.71. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.96.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were given a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 4.52%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Analyst Ratings Changes

Several research firms have weighed in on PRGO. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Perrigo has an average rating of “Hold” and an average price target of $35.00.

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction 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 trade represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Perrigo 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.