Gabelli Funds LLC Cuts Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Gabelli Funds LLC decreased its position in Perrigo Company plc (NYSE:PRGO) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,500 shares of the company’s stock after selling 10,100 shares during the quarter. Gabelli Funds LLC owned approximately 0.30% of Perrigo worth $10,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its stake in shares of Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after buying an additional 1,340 shares during the period. Versant Capital Management Inc purchased a new stake in Perrigo during the fourth quarter valued at about $45,000. GAMMA Investing LLC boosted its position 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 purchasing an additional 929 shares during the period. Central Pacific Bank Trust Division raised its position 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 purchasing an additional 500 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of 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 buying an additional 2,084 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

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 note on Tuesday, January 14th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a 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 analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.00.

Insider Transactions at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by insiders.

Perrigo Trading Up 0.5 %

Shares of PRGO stock opened at $25.18 on Thursday. The company has a market capitalization of $3.44 billion, a PE ratio of -21.52 and a beta of 0.49. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The business’s fifty day moving average is $26.45 and its 200 day moving average is $26.05. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

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

Perrigo Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.61%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is -92.80%.

About Perrigo

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.