O Keefe Stevens Advisory Inc. Acquires 13,146 Shares of Perrigo Company plc $PRGO

Key Points

• O Keefe Stevens Advisory Inc. increased its stake in Perrigo Company plc by 6.3%, acquiring 13,146 additional shares, bringing their total ownership to 221,859 shares, valued at approximately $5.93 million.
• In recent transactions, several hedge funds have adjusted their positions in Perrigo, with notable increases including D.A. Davidson & CO. establishing a new position valued at around $1.62 million.
• Perrigo announced a quarterly dividend of $0.29 per share, reflecting an annualized yield of 5.2%, although the company's dividend payout ratio is currently negative.

O Keefe Stevens Advisory Inc. boosted its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,859 shares of the company's stock after purchasing an additional 13,146 shares during the period. Perrigo comprises 1.7% of O Keefe Stevens Advisory Inc.'s portfolio, making the stock its 20th biggest holding. O Keefe Stevens Advisory Inc. owned about 0.16% of Perrigo worth $5,928,000 as of its most recent SEC filing.

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

Insider Activity

In other news, EVP Robert Willis bought 1,488 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were bought at an average cost of $24.10 per share, with a total value of $35,860.80. Following the acquisition, the executive vice president owned 41,939 shares in the company, valued at $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eduardo Guarita Bezerra bought 3,000 shares of the company's stock in a transaction dated 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 completion of the acquisition, the chief financial officer owned 48,949 shares in the company, valued at $1,113,100.26. This trade represents a 6.53% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 10,118 shares of company stock valued at $232,699 in the last 90 days. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PRGO shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Perrigo in a research note on Saturday, September 27th. Canaccord Genuity Group lowered their price target on shares of Perrigo from $42.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Perrigo currently has an average rating of "Hold" and an average target price of $34.00.

Perrigo Trading Up 1.7%

Shares of NYSE:PRGO opened at $22.52 on Friday. The company's 50-day moving average price is $23.26 and its two-hundred day moving average price is $25.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. Perrigo Company plc has a one year low of $20.51 and a one year high of $30.93. The stock has a market capitalization of $3.10 billion, a PE ratio of -38.83 and a beta of 0.43.

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

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 29th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 29th. Perrigo's dividend payout ratio is presently -200.00%.

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.

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