Perrigo Company plc (NYSE:PRGO) Holdings Trimmed by Cooke & Bieler LP

Cooke & Bieler LP lowered its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,540,461 shares of the company's stock after selling 33,190 shares during the period. Cooke & Bieler LP owned approximately 2.59% of Perrigo worth $99,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Perrigo during the fourth quarter valued at approximately $3,177,000. PNC Financial Services Group Inc. increased its stake in shares of Perrigo by 12.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,126 shares of the company's stock worth $389,000 after acquiring an additional 1,699 shares during the last quarter. American Assets Inc. purchased a new stake in shares of Perrigo during the fourth quarter worth $386,000. HighTower Advisors LLC boosted its position in Perrigo by 8.5% during the fourth quarter. HighTower Advisors LLC now owns 13,307 shares of the company's stock valued at $342,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Swiss National Bank increased its position in Perrigo by 0.6% in the 4th quarter. Swiss National Bank now owns 268,300 shares of the company's stock worth $6,898,000 after purchasing an additional 1,700 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 upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Perrigo has a consensus rating of "Hold" and a consensus price target of $33.00.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $27.08 on Thursday. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week 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. The business has a 50-day moving average of $26.81 and a two-hundred day moving average of $26.10. The stock has a market capitalization of $3.72 billion, a P/E ratio of -20.67 and a beta of 0.45.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. The company 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 quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.28%. Perrigo's dividend payout ratio is currently -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.

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