DAVENPORT & Co LLC Sells 39,126 Shares of Perrigo Company plc (NYSE:PRGO)

DAVENPORT & Co LLC lessened its holdings in shares of Perrigo Company plc (NYSE:PRGOFree Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,131,800 shares of the company’s stock after selling 39,126 shares during the quarter. DAVENPORT & Co LLC’s holdings in Perrigo were worth $100,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd bought a new position in shares of Perrigo in the third quarter valued at approximately $5,447,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Perrigo in the third quarter valued at approximately $2,006,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Perrigo by 94.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 46,118 shares of the company’s stock valued at $1,473,000 after purchasing an additional 22,354 shares during the period. Blair William & Co. IL raised its position in shares of Perrigo by 170.5% in the third quarter. Blair William & Co. IL now owns 25,023 shares of the company’s stock valued at $799,000 after purchasing an additional 15,774 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in shares of Perrigo by 4.1% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock worth $310,000 after acquiring an additional 380 shares during the last quarter. Institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRGO shares. JPMorgan Chase & Co. dropped their price target on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th.

Get Our Latest Analysis on Perrigo

Perrigo Stock Performance

PRGO stock traded down $0.79 during trading hours on Tuesday, hitting $31.32. 1,105,565 shares of the stock were exchanged, compared to its average volume of 1,990,192. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.24 billion, a P/E ratio of -313.20 and a beta of 0.64. The company has a 50-day simple moving average of $31.02 and a two-hundred day simple moving average of $30.89. Perrigo Company plc has a 12 month low of $25.77 and a 12 month high of $40.28.

Perrigo (NYSE:PRGOGet Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. Perrigo’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, analysts forecast that Perrigo Company plc will post 2.55 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were issued a dividend of $0.276 per share. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, March 7th. Perrigo’s dividend payout ratio is -1,100.00%.

Insider Transactions at Perrigo

In related news, EVP Alison Ives bought 2,490 shares of Perrigo stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $27.26 per share, with a total value of $67,877.40. Following the acquisition, the executive vice president now owns 16,122 shares in the company, valued at approximately $439,485.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alison Ives purchased 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the acquisition, the executive vice president now owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Lockwood-Taylor purchased 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of $26.54 per share, with a total value of $252,130.00. Following the acquisition, the chief executive officer now directly owns 20,500 shares of the company’s stock, valued at approximately $544,070. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 17,990 shares of company stock valued at $475,227. 0.40% of the stock is owned by corporate insiders.

Perrigo Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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