Perrigo Company plc (NYSE:PRGO) Shares Sold by University of Texas Texas AM Investment Management Co.

Key Points

• The University of Texas Texas AM Investment Management Co. reduced its stake in Perrigo Company plc by 52.1%, holding 18,395 shares valued at $516,000 post sale.
• Perrigo's stock recently experienced a rating downgrade from "buy" to "hold" by Wall Street Zen, with a consensus price target of $33.00.
• The company declared a quarterly dividend of $0.29 per share with an annualized yield of 4.08%, despite a negative payout ratio of -88.55%.

University of Texas Texas AM Investment Management Co. cut its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 52.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,395 shares of the company's stock after selling 20,029 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Perrigo were worth $516,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Headlands Technologies LLC increased its position in Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after purchasing an additional 1,340 shares during the last quarter. Parallel Advisors LLC grew its holdings in Perrigo by 176.9% during the 1st quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock valued at $48,000 after purchasing an additional 1,095 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Perrigo by 138.3% during the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company's stock valued at $49,000 after buying an additional 1,018 shares during the last quarter. Fifth Third Bancorp grew its position in Perrigo by 62.0% in the 1st quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock valued at $62,000 after acquiring an additional 849 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Perrigo by 110.4% in the first quarter. Blue Trust Inc. now owns 2,619 shares of the company's stock worth $73,000 after purchasing an additional 1,374 shares during the last quarter. 95.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Perrigo currently has an average rating of "Hold" and a consensus target price of $33.00.

Perrigo Stock Down 2.5%

PRGO traded down $0.68 during trading on Thursday, hitting $26.83. The stock had a trading volume of 330,425 shares, compared to its average volume of 1,396,062. 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 capitalization of $3.69 billion, a PE ratio of -20.48 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. The stock has a 50 day simple moving average of $27.00 and a two-hundred day simple moving average of $26.27.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter last year, the firm earned $0.29 EPS. The business's quarterly revenue was down 3.5% on a year-over-year basis. On average, research analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.32%. Perrigo's dividend payout ratio is presently -88.55%.

About Perrigo

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.