SRS Capital Advisors Inc. Trims Stock Position in Perrigo Company plc (NYSE:PRGO)

SRS Capital Advisors Inc. lessened its holdings in Perrigo Company plc (NYSE:PRGO) by 67.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,085 shares of the company’s stock after selling 2,228 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Perrigo were worth $28,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc purchased a new position in shares of Perrigo in the 4th quarter valued at about $45,000. GAMMA Investing LLC increased its stake in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after purchasing an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of 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 purchasing an additional 500 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Perrigo in the 3rd quarter valued at about $56,000. Finally, KBC Group NV increased its stake in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after purchasing an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Perrigo Trading Down 3.0 %

PRGO stock opened at $27.81 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -23.77 and a beta of 0.48. The business’s 50-day moving average is $25.21 and its 200 day moving average is $26.25.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. On average, sell-side analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. 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 4.17%. The ex-dividend date is Friday, March 7th. Perrigo’s payout ratio is currently -92.80%.

Insider Transactions at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

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.