Perrigo Company plc (NYSE:PRGO) Shares Sold by KBC Group NV

KBC Group NV cut its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 94.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,260 shares of the company's stock after selling 105,572 shares during the quarter. KBC Group NV's holdings in Perrigo were worth $176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Perrigo by 5.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,028,172 shares of the company's stock valued at $26,434,000 after purchasing an additional 55,155 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Perrigo by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock valued at $26,944,000 after buying an additional 13,835 shares during the period. M&T Bank Corp acquired a new position in Perrigo during the fourth quarter worth about $240,000. Raymond James Financial Inc. purchased a new stake in Perrigo during the 4th quarter worth about $3,177,000. Finally, Edgestream Partners L.P. grew its stake in Perrigo by 95.4% in the 4th quarter. Edgestream Partners L.P. now owns 155,164 shares of the company's stock worth $3,989,000 after acquiring an additional 75,766 shares during the period. Hedge funds and other institutional investors own 95.91% of the company's stock.

Perrigo Stock Down 1.7%

Shares of PRGO stock traded down $0.46 during trading hours on Monday, reaching $26.74. The company had a trading volume of 816,178 shares, compared to its average volume of 1,449,114. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.36. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $30.93. The stock's fifty day simple moving average is $26.54 and its 200 day simple moving average is $26.03. The company has a market capitalization of $3.68 billion, a P/E ratio of -20.41 and a beta of 0.45.

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

Perrigo Dividend Announcement

The firm 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 was Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.34%. Perrigo's dividend payout ratio is presently -88.55%.

Analyst Upgrades and Downgrades

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

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.