ArrowMark Colorado Holdings LLC Has $12.70 Million Stake in Perrigo Company plc (NYSE:PRGO)

ArrowMark Colorado Holdings LLC lessened its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,855 shares of the company's stock after selling 95,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.36% of Perrigo worth $12,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Perrigo by 6,828.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,845,539 shares of the company's stock worth $201,710,000 after purchasing an additional 7,732,309 shares during the period. Norges Bank purchased a new position in Perrigo in the fourth quarter valued at about $36,614,000. Ion Asset Management Ltd. boosted its stake in Perrigo by 50.1% in the fourth quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock valued at $72,502,000 after acquiring an additional 941,667 shares in the last quarter. Bahl & Gaynor Inc. increased its position in Perrigo by 44.9% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock valued at $39,213,000 after buying an additional 472,958 shares in the last quarter. Finally, Access Investment Management LLC purchased a new stake in shares of Perrigo during the fourth quarter valued at $7,989,000. Institutional investors own 95.91% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented 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 downgraded Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $33.00.

Insider Activity at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction on 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 in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Perrigo Stock Performance

Perrigo stock traded up $0.30 during midday trading on Friday, hitting $27.10. 542,173 shares of the company's stock were exchanged, compared to its average volume of 1,522,555. The firm's 50 day simple moving average is $26.48 and its 200 day simple moving average is $26.10. 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 stock has a market cap of $3.70 billion, a price-to-earnings ratio of -23.16 and a beta of 0.45. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $31.32.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. Perrigo's quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.28%. Perrigo's dividend payout ratio is presently -88.55%.

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.