DAVENPORT & Co LLC Lowers Stake in Perrigo Company plc (NYSE:PRGO)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in shares of Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after buying an additional 1,340 shares during the last quarter. Parallel Advisors LLC raised its position in shares of 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 buying an additional 1,095 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Perrigo by 62.0% during the first 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 last quarter. Blue Trust Inc. raised its position in shares of Perrigo by 110.4% during the first 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 last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Perrigo by 50.0% in the first 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 in the last quarter. Institutional investors own 95.91% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $33.00.

Perrigo Price Performance

Shares of PRGO stock traded up $0.25 on Friday, reaching $27.52. The company's stock had a trading volume of 1,075,538 shares, compared to its average volume of 1,439,780. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The stock's fifty day simple moving average is $26.67 and its 200-day simple moving average is $26.06. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of -21.01 and a beta of 0.45. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $30.93.

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

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.22%. Perrigo's payout ratio is -88.55%.

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.