Bessemer Group Inc. Sells 13,678 Shares of Perrigo Company plc (NYSE:PRGO)

Bessemer Group Inc. reduced its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 50.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,349 shares of the company's stock after selling 13,678 shares during the quarter. Bessemer Group Inc.'s holdings in Perrigo were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC increased its holdings in 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 purchasing an additional 1,340 shares during the last quarter. Versant Capital Management Inc bought a new position in Perrigo during the fourth quarter worth about $45,000. GAMMA Investing LLC grew its position in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after buying an additional 929 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after acquiring an additional 500 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of Perrigo by 97.8% in the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock valued at $108,000 after acquiring an additional 2,084 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Perrigo Stock Down 1.6 %

Shares of NYSE:PRGO traded down $0.40 during midday trading on Monday, reaching $24.92. 72,978 shares of the company were exchanged, compared to its average volume of 1,520,890. The firm has a market cap of $3.40 billion, a PE ratio of -21.35 and a beta of 0.49. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46. The stock has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $26.06. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. As a group, sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.29 per share. This is a boost from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.66%. Perrigo's dividend payout ratio is presently -92.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler lowered shares of 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. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Argus lowered Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $33.00.

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.