KBC Group NV Reduces Stock Holdings in Perrigo Company plc (NYSE:PRGO)

KBC Group NV lowered its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 94.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,260 shares of the company's stock after selling 105,572 shares during the period. KBC Group NV's holdings in Perrigo were worth $176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Perrigo by 91.9% during 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 during the period. Charles Schwab Investment Management Inc. grew its position 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 worth $26,944,000 after buying an additional 13,835 shares during the last quarter. Beach Investment Counsel Inc. PA purchased a new position in shares of Perrigo in the 1st quarter worth approximately $1,526,000. Allspring Global Investments Holdings LLC grew its position in shares of Perrigo by 4.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,142,407 shares of the company's stock worth $31,645,000 after buying an additional 50,009 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Perrigo in the 4th quarter worth approximately $3,177,000. Institutional investors own 95.91% of the company's stock.

Perrigo Price Performance

NYSE:PRGO traded up $0.06 during trading hours on Thursday, reaching $27.28. 1,025,879 shares of the company were exchanged, compared to its average volume of 1,442,984. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The stock's 50-day moving average is $26.63 and its 200-day moving average is $26.05. The firm has a market cap of $3.75 billion, a PE ratio of -20.82 and a beta of 0.45. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the firm earned $0.29 earnings per share. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, May 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Friday, May 30th. Perrigo's dividend payout ratio is currently -88.55%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $33.00.

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.