Caption Management LLC Sells 52,000 Shares of Perrigo Company plc $PRGO

Key Points

• Caption Management LLC reduced its stake in Perrigo Company plc by 72.0% during the first quarter, after selling 52,000 shares, leaving it with 20,200 shares valued at $566,000.
• Perrigo recently announced a quarterly dividend of $0.29, with a dividend yield of 4.9%, despite having a negative dividend payout ratio of -200.00%.
• The company's stock has seen a 1-year low of $21.03 and a high of $30.93, currently trading around $23.77 with a market cap of $3.27 billion.

Caption Management LLC cut its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 72.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,200 shares of the company's stock after selling 52,000 shares during the quarter. Caption Management LLC's holdings in Perrigo were worth $566,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRGO. Picton Mahoney Asset Management acquired a new stake in shares of Perrigo in the first quarter worth $42,000. Parallel Advisors LLC increased its holdings in Perrigo by 176.9% in the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock valued at $48,000 after buying an additional 1,095 shares during the period. First Horizon Advisors Inc. increased its holdings in Perrigo by 138.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock valued at $49,000 after buying an additional 1,018 shares during the period. Fifth Third Bancorp increased its holdings in Perrigo by 62.0% in the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock valued at $62,000 after buying an additional 849 shares during the period. Finally, Blue Trust Inc. increased its holdings in Perrigo by 110.4% in the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock valued at $73,000 after buying an additional 1,374 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on PRGO. 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 research report on Thursday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Perrigo from a "buy" rating to a "hold" rating in a report on Sunday, August 24th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Perrigo has a consensus rating of "Hold" and an average price target of $33.00.

Perrigo Stock Down 0.6%

Shares of NYSE PRGO traded down $0.14 during midday trading on Wednesday, reaching $23.35. The company's stock had a trading volume of 1,286,961 shares, compared to its average volume of 1,965,857. The company has a current ratio of 2.32, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Perrigo Company plc has a fifty-two week low of $21.03 and a fifty-two week high of $30.93. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -40.25 and a beta of 0.48. The stock has a 50 day simple moving average of $25.63 and a 200-day simple moving average of $26.17.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.02). Perrigo had a negative net margin of 1.86% and a positive return on equity of 9.09%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.53 earnings per share. Perrigo's revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict 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 will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 5.0%. Perrigo's dividend payout ratio is -200.00%.

Insider Buying and Selling

In other news, EVP Robert Willis acquired 1,488 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $24.10 per share, with a total value of $35,860.80. Following the completion of the transaction, the executive vice president directly owned 41,939 shares of the company's stock, valued at $1,010,729.90. This trade represents a 3.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey M. Parker acquired 4,375 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $22.97 per share, with a total value of $100,493.75. Following the transaction, the director directly owned 33,287 shares of the company's stock, valued at $764,602.39. This trade represents a 15.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 8,863 shares of company stock valued at $204,575 over the last quarter. 0.40% of the stock is owned by company insiders.

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.