Perpetual Ltd Sells 486,454 Shares of Perrigo Company plc (NYSE:PRGO)

Perpetual Ltd lessened its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 20.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,914,953 shares of the company's stock after selling 486,454 shares during the period. Perpetual Ltd owned approximately 1.40% of Perrigo worth $53,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC raised its holdings in shares of Perrigo by 1,942.0% in the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after buying an additional 1,340 shares in the last quarter. Parallel Advisors LLC grew its position in Perrigo by 176.9% in the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock valued at $48,000 after acquiring an additional 1,095 shares during the period. Fifth Third Bancorp raised its stake in Perrigo by 62.0% during the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock worth $62,000 after acquiring an additional 849 shares in the last quarter. Blue Trust Inc. lifted its holdings 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 acquiring an additional 1,374 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in shares of Perrigo by 50.0% during the first quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the company's stock valued at $84,000 after acquiring an additional 1,000 shares during the period. 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, May 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Perrigo currently has a consensus rating of "Hold" and a consensus target price of $33.00.

Perrigo Trading Down 0.0%

Shares of PRGO opened at $26.62 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.36. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -20.32 and a beta of 0.46. The stock has a fifty day moving average price of $26.28 and a two-hundred day moving average price of $26.03. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $30.93.

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

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders 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 4.36%. Perrigo's dividend payout ratio is currently -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.

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