Perrigo Company plc (NYSE:PRGO) Stake Lessened by Copeland Capital Management LLC

Copeland Capital Management LLC cut its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,962,936 shares of the company's stock after selling 88,266 shares during the quarter. Copeland Capital Management LLC owned about 1.45% of Perrigo worth $63,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PRGO. Wolf Hill Capital Management LP boosted its position in shares of Perrigo by 168.9% during the first quarter. Wolf Hill Capital Management LP now owns 3,959,634 shares of the company's stock valued at $142,032,000 after purchasing an additional 2,486,987 shares in the last quarter. Cooper Creek Partners Management LLC boosted its holdings in Perrigo by 1,080.0% in the third quarter. Cooper Creek Partners Management LLC now owns 1,872,508 shares of the company's stock worth $59,827,000 after acquiring an additional 1,713,827 shares in the last quarter. Norges Bank bought a new stake in Perrigo in the fourth quarter worth $45,075,000. Millennium Management LLC boosted its holdings in Perrigo by 256.1% in the fourth quarter. Millennium Management LLC now owns 1,420,648 shares of the company's stock worth $48,430,000 after acquiring an additional 1,021,709 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Perrigo in the first quarter worth $24,684,000. 95.91% of the stock is currently owned by institutional investors.

Insider Activity at Perrigo

In other news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of Perrigo stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the transaction, the chief executive officer now owns 20,500 shares in the company, valued at $544,070. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Perrigo news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $26.54 per share, with a total value of $252,130.00. Following the completion of the purchase, the chief executive officer now directly owns 20,500 shares in the company, valued at approximately $544,070. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alison Ives purchased 2,490 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now owns 16,122 shares of the company's stock, valued at approximately $439,485.72. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 17,990 shares of company stock worth $475,227. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PRGO shares. JPMorgan Chase & Co. dropped their target price on Perrigo from $48.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, February 28th. StockNews.com downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Thursday, March 7th.

Perrigo Stock Up 2.3 %

Shares of PRGO stock traded up $0.73 during mid-day trading on Friday, hitting $32.19. The company's stock had a trading volume of 1,583,458 shares, compared to its average volume of 2,549,218. Perrigo Company plc has a 52-week low of $25.77 and a 52-week high of $40.28. The business has a 50-day moving average price of $31.09 and a 200 day moving average price of $30.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -321.90 and a beta of 0.61.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The company's revenue was up .1% on a year-over-year basis. Research analysts predict that Perrigo Company plc will post 2.55 EPS for the current fiscal year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, March 7th. This is a boost from Perrigo's previous quarterly dividend of $0.27. Perrigo's dividend payout ratio is -1,100.00%.

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.