Ceredex Value Advisors LLC Lowers Stock Position in Perrigo Company plc (NYSE:PRGO)

Ceredex Value Advisors LLC lowered its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 47.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 258,700 shares of the company's stock after selling 236,600 shares during the quarter. Ceredex Value Advisors LLC owned about 0.19% of Perrigo worth $8,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Dark Forest Capital Management LP bought a new stake in Perrigo during the first quarter worth approximately $31,000. Ronald Blue Trust Inc. boosted its holdings in shares of Perrigo by 132.3% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,157 shares of the company's stock worth $39,000 after buying an additional 659 shares during the period. Blue Trust Inc. grew its stake in Perrigo by 34.5% in the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company's stock valued at $50,000 after buying an additional 399 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Perrigo by 345.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,430 shares of the company's stock worth $51,000 after acquiring an additional 1,109 shares during the period. Finally, Fifth Third Bancorp lifted its position in Perrigo by 39.5% during the 3rd quarter. Fifth Third Bancorp now owns 1,714 shares of the company's stock worth $55,000 after acquiring an additional 485 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Perrigo Stock Performance

Shares of PRGO traded up $0.35 on Monday, reaching $31.75. 1,330,374 shares of the stock traded hands, compared to its average volume of 1,955,853. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -317.50 and a beta of 0.64. Perrigo Company plc has a 12 month low of $25.77 and a 12 month high of $40.28. The stock's 50-day moving average price is $30.88 and its 200-day moving average price is $30.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07.

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

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th were paid a $0.276 dividend. This is a positive change from Perrigo's previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, March 7th. Perrigo's dividend payout ratio is currently -1,100.00%.

Insider Transactions at Perrigo

In related news, EVP Robert Willis acquired 6,000 shares of the business's stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the acquisition, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Perrigo news, CEO Patrick Lockwood-Taylor bought 9,500 shares of Perrigo stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $26.54 per share, with a total value of $252,130.00. Following the acquisition, the chief executive officer now directly owns 20,500 shares of the company's stock, valued at $544,070. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Willis purchased 6,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the acquisition, the executive vice president now directly owns 25,105 shares in the company, valued at $649,466.35. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 17,990 shares of company stock valued at $475,227. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PRGO shares. Piper Sandler lifted their price objective on Perrigo from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. cut their price target on Perrigo from $48.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd.

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.