Perpetual Ltd Sells 46,600 Shares of Perrigo Company plc (NYSE:PRGO)

Perpetual Ltd lessened its stake in shares of Perrigo Company plc (NYSE:PRGO) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,401,407 shares of the company’s stock after selling 46,600 shares during the quarter. Perpetual Ltd owned approximately 1.76% of Perrigo worth $61,740,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc bought a new stake in Perrigo during the 4th quarter worth $45,000. GAMMA Investing LLC grew its holdings in shares of Perrigo by 93.7% during the fourth 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 increased its stake in shares of Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares during the period. Venturi Wealth Management LLC bought a new position in Perrigo in the 3rd quarter valued at approximately $56,000. Finally, KBC Group NV boosted its position in Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after buying an additional 905 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Perrigo Stock Up 0.0 %

Shares of NYSE:PRGO opened at $23.86 on Tuesday. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The business’s 50-day moving average is $26.43 and its 200-day moving average is $26.72.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were paid a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is currently -94.02%.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several analyst reports. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Finally, Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.00.

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.