Allspring Global Investments Holdings LLC Grows Stake in Perrigo Company plc (NYSE:PRGO)

Allspring Global Investments Holdings LLC increased its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,142,407 shares of the company's stock after purchasing an additional 50,009 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.84% of Perrigo worth $31,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Headlands Technologies LLC grew its stake in shares of Perrigo by 1,942.0% during the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after acquiring an additional 1,340 shares during the period. Parallel Advisors LLC lifted its holdings in Perrigo by 176.9% during the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock valued at $48,000 after purchasing an additional 1,095 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Perrigo by 62.0% in the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock worth $62,000 after purchasing an additional 849 shares during the period. Blue Trust Inc. increased its stake in shares of Perrigo by 110.4% in the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock worth $73,000 after purchasing an additional 1,374 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in shares of Perrigo by 50.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the company's stock valued at $84,000 after purchasing an additional 1,000 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Price Performance

PRGO stock traded down $0.20 during mid-day trading on Wednesday, hitting $27.23. The company had a trading volume of 1,429,141 shares, compared to its average volume of 1,455,532. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -20.79 and a beta of 0.45. The company has a 50-day moving average price of $26.41 and a 200 day moving average price of $26.00. The company has a quick ratio of 1.28, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The firm's revenue was down 3.5% on a year-over-year basis. On average, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, May 30th. Perrigo's dividend payout ratio is presently -88.55%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Perrigo from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $33.00.

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.