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

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

Several other hedge funds have also recently made changes to their positions in PRGO. Price T Rowe Associates Inc. MD grew its holdings in Perrigo by 6,828.9% in the fourth 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 bought a new stake in Perrigo in the 4th quarter valued at about $36,614,000. Ion Asset Management Ltd. raised its stake in Perrigo by 50.1% during the 4th quarter. Ion Asset Management Ltd. now owns 2,820,000 shares of the company's stock worth $72,502,000 after buying an additional 941,667 shares during the period. Bahl & Gaynor Inc. boosted its holdings in Perrigo by 44.9% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock worth $39,213,000 after acquiring an additional 472,958 shares in the last quarter. Finally, Access Investment Management LLC acquired a new stake in Perrigo in the fourth quarter valued at approximately $7,989,000. 95.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Perrigo Stock Performance

Shares of PRGO stock opened at $25.65 on Friday. 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 moving average of $26.56 and a 200-day moving average of $26.10. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46. The company has a market cap of $3.50 billion, a P/E ratio of -21.92 and a beta of 0.45.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.20 billion. Equities research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.52%. Perrigo's dividend payout ratio (DPR) is presently -92.80%.

Insider Activity

In related 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 value of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares of the company's stock, 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 can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.