Perrigo Company plc $PRGO Shares Bought by Dean Capital Management

Key Points

• Dean Capital Management significantly increased its holdings in Perrigo Company plc by 219.1%, owning a total of 52,664 shares worth approximately $1.48 million after acquiring 36,162 additional shares.
• Perrigo's quarterly earnings report revealed an EPS of $0.57, missing expectations of $0.59, with a revenue of $1.06 billion, below the projected $1.08 billion.
• The company declared a quarterly dividend of $0.29, with a yield of 5.2%, and reported a negative dividend payout ratio of -200.00%.

Dean Capital Management boosted its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 219.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,664 shares of the company's stock after buying an additional 36,162 shares during the quarter. Dean Capital Management's holdings in Perrigo were worth $1,477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. raised its holdings in shares of Perrigo by 0.6% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company's stock valued at $53,128,000 after purchasing an additional 11,256 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Perrigo by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 313,849 shares of the company's stock valued at $8,800,000 after purchasing an additional 914 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of Perrigo in the 1st quarter valued at about $1,619,000. GAMMA Investing LLC raised its holdings in shares of Perrigo by 91.9% in the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company's stock valued at $103,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Perrigo in the 1st quarter valued at about $1,526,000. Institutional investors own 95.91% of the company's stock.

Perrigo Stock Performance

NYSE:PRGO traded down $0.29 during trading hours on Friday, hitting $22.26. 1,328,437 shares of the company were exchanged, compared to its average volume of 1,416,799. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -38.38 and a beta of 0.48. Perrigo Company plc has a 52-week low of $21.03 and a 52-week high of $30.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The company's 50 day moving average price is $25.00 and its 200-day moving average price is $26.05.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.02). The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.08 billion. Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. As a group, research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo's dividend payout ratio is -200.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $33.00.

Insider Buying and Selling at Perrigo

In other news, CFO Eduardo Guarita Bezerra bought 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $22.74 per share, for a total transaction of $68,220.00. Following the purchase, the chief financial officer directly owned 48,949 shares in the company, valued at approximately $1,113,100.26. This trade represents a 6.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey M. Parker bought 4,375 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of $22.97 per share, with a total value of $100,493.75. Following the completion of the purchase, the director owned 33,287 shares in the company, valued at approximately $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 acquired 10,118 shares of company stock valued at $232,699 over the last quarter. Insiders own 0.70% of the company's stock.

About Perrigo

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.