DAVENPORT & Co LLC Sells 447,391 Shares of Perrigo Company plc (NYSE:PRGO)

DAVENPORT & Co LLC decreased its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 96.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,205 shares of the company's stock after selling 447,391 shares during the quarter. DAVENPORT & Co LLC's holdings in Perrigo were worth $426,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC increased its holdings 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 worth $36,000 after acquiring an additional 1,340 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Perrigo by 176.9% during the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock worth $48,000 after acquiring an additional 1,095 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Perrigo by 62.0% during the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock worth $62,000 after acquiring an additional 849 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Perrigo by 110.4% during the 1st quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock worth $73,000 after acquiring an additional 1,374 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings 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 worth $84,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Perrigo from a "hold" rating to a "buy" rating in a report on Saturday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Perrigo presently has a consensus rating of "Hold" and an average price target of $33.00.

Perrigo Stock Performance

PRGO traded up $0.08 during trading on Wednesday, hitting $27.22. The stock had a trading volume of 23,231 shares, compared to its average volume of 1,443,172. The company has a 50 day moving average price of $26.60 and a 200-day moving average price of $26.04. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -20.77 and a beta of 0.45. Perrigo Company plc has a one year low of $23.14 and a one year high of $30.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.28.

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

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were given a dividend of $0.29 per share. The ex-dividend date was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.26%. Perrigo's payout ratio is -88.55%.

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.