Perrigo Company plc $PRGO Shares Acquired by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. increased its stake in Perrigo Company plc by 18.3%, owning 1,298,444 shares, which accounts for approximately 1.1% of its investment portfolio.
• Perrigo reported earnings of $0.57 per share for the last quarter, missing estimates by $0.02, and had a revenue of $1.06 billion, below the expected $1.08 billion.
• The company announced a quarterly dividend of $0.29 per share to be paid on September 16th, representing a 4.9% yield based on an annualized dividend of $1.16.

BW Gestao de Investimentos Ltda. boosted its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,298,444 shares of the company's stock after purchasing an additional 201,252 shares during the quarter. Perrigo comprises approximately 1.1% of BW Gestao de Investimentos Ltda.'s investment portfolio, making the stock its 9th biggest position. BW Gestao de Investimentos Ltda. owned about 0.94% of Perrigo worth $36,408,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management bought a new stake in shares of Perrigo during the 1st quarter worth about $42,000. Parallel Advisors LLC lifted its position in Perrigo by 176.9% during the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock worth $48,000 after acquiring an additional 1,095 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Perrigo by 138.3% during the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock worth $49,000 after acquiring an additional 1,018 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of 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 during the period. Finally, Blue Trust Inc. grew its position in shares of Perrigo by 110.4% in the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock valued at $73,000 after purchasing an additional 1,374 shares during the last quarter. 95.91% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Robert Willis purchased 1,488 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was bought at an average price 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 approximately $1,010,729.90. The trade was a 3.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Eduardo Guarita Bezerra purchased 3,000 shares of Perrigo stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $22.74 per share, for a total transaction of $68,220.00. Following the transaction, the chief financial officer directly owned 48,949 shares in the company, valued at $1,113,100.26. This represents a 6.53% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 8,863 shares of company stock worth $204,575. 0.40% of the stock is currently owned by corporate insiders.

Perrigo Price Performance

Perrigo stock opened at $23.47 on Wednesday. The firm has a market cap of $3.23 billion, a PE ratio of -40.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.32 and a quick ratio of 1.24. The stock's fifty day moving average price is $25.70 and its two-hundred day moving average price is $26.19. Perrigo Company plc has a one year low of $21.03 and a one year high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $0.53 earnings per share. The business's revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts expect 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 will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, August 29th. Perrigo's dividend payout ratio (DPR) is currently -200.00%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Perrigo from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Canaccord Genuity Group lowered their price objective on Perrigo from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Sunday, August 24th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company 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.

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