Seven Six Capital Management LLC Buys Shares of 238,000 Perrigo Company plc (NYSE:PRGO)

Seven Six Capital Management LLC bought a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 238,000 shares of the company's stock, valued at approximately $6,119,000. Perrigo makes up approximately 5.3% of Seven Six Capital Management LLC's investment portfolio, making the stock its 4th biggest position. Seven Six Capital Management LLC owned 0.17% of Perrigo as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC lifted its stake in Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after purchasing an additional 37,268 shares during the last quarter. Access Investment Management LLC bought a new position in Perrigo during the fourth quarter worth $7,989,000. Charles Schwab Investment Management Inc. lifted its stake in Perrigo by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,048,005 shares of the company's stock worth $26,944,000 after purchasing an additional 13,835 shares during the last quarter. Raymond James Financial Inc. bought a new position in Perrigo during the fourth quarter worth $3,177,000. Finally, SG Americas Securities LLC bought a new position in Perrigo during the fourth quarter worth $691,000. Institutional investors and hedge funds own 95.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Perrigo currently has an average rating of "Hold" and an average target price of $33.00.

Insider Buying and Selling

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

Perrigo Stock Performance

Shares of NYSE PRGO traded up $0.22 during midday trading on Tuesday, reaching $27.42. 980,921 shares of the company traded hands, compared to its average volume of 1,530,321. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $30.93. The stock has a 50-day moving average price of $26.25 and a 200 day moving average price of $26.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company has a market cap of $3.77 billion, a price-to-earnings ratio of -23.44 and a beta of 0.45.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Friday, May 30th. Perrigo's payout ratio is currently -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.