Perrigo Company plc (NYSE:PRGO) Stake Decreased by Cannell & Spears LLC

Cannell & Spears LLC trimmed its holdings in Perrigo Company plc (NYSE:PRGO) by 51.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,862 shares of the company’s stock after selling 38,375 shares during the quarter. Cannell & Spears LLC’s holdings in Perrigo were worth $948,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PRGO. Pacer Advisors Inc. grew its stake in shares of Perrigo by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company’s stock worth $523,000 after purchasing an additional 427 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Perrigo by 2.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company’s stock valued at $567,000 after buying an additional 436 shares in the last quarter. Cedar Wealth Management LLC increased its stake in Perrigo by 2.1% during the 4th quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock valued at $565,000 after buying an additional 450 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Perrigo by 0.8% in the 4th quarter. Amalgamated Bank now owns 64,086 shares of the company’s stock worth $1,648,000 after acquiring an additional 522 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRGO has been the topic of a number of research analyst reports. Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Perrigo has a consensus rating of “Hold” and an average target price of $33.00.

Perrigo Stock Up 0.0 %

PRGO stock opened at $28.07 on Tuesday. The firm has a market cap of $3.83 billion, a PE ratio of -23.99 and a beta of 0.48. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. 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 firm has a 50 day simple moving average of $26.19 and a 200 day simple moving average of $26.16.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company 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%. Equities research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s payout ratio is presently -92.80%.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred on Monday, March 10th. The shares were 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 in the company, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

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.