DAVENPORT & Co LLC Decreases Stock Holdings in Perrigo Company plc $PRGO

DAVENPORT & Co LLC trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 16.7% during the 2nd quarter, Holdings Channel reports. The fund owned 12,667 shares of the company’s stock after selling 2,538 shares during the period. DAVENPORT & Co LLC’s holdings in Perrigo were worth $338,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. raised its holdings in shares of Perrigo by 0.6% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company’s stock worth $53,128,000 after acquiring an additional 11,256 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Perrigo by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 313,849 shares of the company’s stock worth $8,800,000 after acquiring an additional 914 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Perrigo during the 1st quarter worth approximately $1,619,000. GAMMA Investing LLC raised its holdings in shares of Perrigo by 91.9% during the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company’s stock worth $103,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Perrigo by 4.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company’s stock worth $31,645,000 after acquiring an additional 50,009 shares in the last quarter. 95.91% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perrigo news, EVP Robert Willis acquired 1,488 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were bought at an average price of $24.10 per share, with a total value of $35,860.80. Following the transaction, the executive vice president directly owned 41,939 shares of the company’s stock, valued at $1,010,729.90. The trade was a 3.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Abigail Lennox purchased 1,255 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were purchased at an average cost of $22.41 per share, for a total transaction of $28,124.55. Following the transaction, the executive vice president directly owned 1,255 shares in the company, valued at approximately $28,124.55. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 10,118 shares of company stock worth $232,699. Insiders own 0.40% of the company’s stock.

Perrigo Stock Performance

Shares of Perrigo stock opened at $21.25 on Monday. The stock’s fifty day moving average is $22.69 and its two-hundred day moving average is $25.17. The company has a market capitalization of $2.92 billion, a PE ratio of -36.64 and a beta of 0.43. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81. Perrigo Company plc has a 52 week low of $20.51 and a 52 week high of $30.93.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. As a group, analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, August 29th. Perrigo’s dividend payout ratio is -200.00%.

Analyst Upgrades and Downgrades

PRGO has been the topic of several recent research reports. Wall Street Zen upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. JPMorgan Chase & Co. decreased their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Canaccord Genuity Group decreased their price target on Perrigo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Perrigo in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Perrigo currently has a consensus rating of “Hold” and a consensus target price of $34.00.

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.