Gabelli Funds LLC Has $10.66 Million Stake in Perrigo Company plc (NYSE:PRGO)

Gabelli Funds LLC lowered its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,500 shares of the company's stock after selling 10,100 shares during the quarter. Gabelli Funds LLC owned 0.30% of Perrigo worth $10,657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Headlands Technologies LLC grew its holdings in shares of Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after buying an additional 1,340 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Perrigo in the fourth quarter valued at approximately $45,000. GAMMA Investing LLC boosted its holdings in Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after buying an additional 500 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Perrigo by 97.8% during the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock worth $108,000 after buying an additional 2,084 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total value of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares of the company's stock, valued at $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PRGO has been the topic of several analyst reports. StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Argus lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, Piper Sandler downgraded shares of Perrigo from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $33.00.

Perrigo Stock Performance

Shares of PRGO traded up $0.41 during trading hours on Tuesday, hitting $24.77. The company had a trading volume of 152,102 shares, compared to its average volume of 1,630,923. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -21.17 and a beta of 0.49. The business has a fifty day moving average of $26.49 and a 200-day moving average of $26.05. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, March 7th. This is a boost from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.68%. Perrigo's dividend payout ratio (DPR) is currently -92.80%.

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.