Quantbot Technologies LP Acquires 13,099 Shares of Perrigo Company plc (NYSE:PRGO)

Quantbot Technologies LP lifted its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 1,879.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,796 shares of the company’s stock after acquiring an additional 13,099 shares during the period. Quantbot Technologies LP’s holdings in Perrigo were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc bought a new stake in Perrigo during the 4th quarter worth approximately $45,000. GAMMA Investing LLC grew its holdings in 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 buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division raised its position in Perrigo by 33.3% in the 4th 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 last quarter. Venturi Wealth Management LLC lifted its stake in Perrigo by 97.8% during the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock valued at $108,000 after acquiring an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Perrigo during the 4th quarter worth $149,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on PRGO shares. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $27.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.00.

Perrigo Price Performance

PRGO opened at $28.06 on Friday. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46. The firm has a 50-day moving average of $26.11 and a 200 day moving average of $26.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market cap of $3.83 billion, a P/E ratio of -23.98 and a beta of 0.48.

Perrigo (NYSE:PRGO) last released its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. On average, research analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is currently -92.80%.

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.