Gabelli Funds LLC Sells 9,100 Shares of Perrigo Company plc $PRGO

Gabelli Funds LLC lowered its position in Perrigo Company plc (NYSE:PRGO) by 2.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 405,400 shares of the company’s stock after selling 9,100 shares during the quarter. Gabelli Funds LLC’s holdings in Perrigo were worth $11,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PRGO. Picton Mahoney Asset Management bought a new stake in shares of Perrigo in the first quarter worth $42,000. Parallel Advisors LLC grew its holdings in shares of Perrigo by 176.9% in the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company’s stock worth $48,000 after acquiring an additional 1,095 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Perrigo by 138.3% in the first quarter. First Horizon Advisors Inc. now owns 1,754 shares of the company’s stock worth $49,000 after acquiring an additional 1,018 shares during the period. Fifth Third Bancorp grew its holdings in shares of Perrigo by 62.0% in the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company’s stock worth $62,000 after acquiring an additional 849 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Perrigo by 110.4% in the first quarter. Blue Trust Inc. now owns 2,619 shares of the company’s stock worth $73,000 after acquiring an additional 1,374 shares during the period. Institutional investors own 95.91% of the company’s stock.

Insider Activity at Perrigo

In related news, Director Geoffrey M. Parker acquired 4,375 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of $22.97 per share, for a total transaction of $100,493.75. Following the completion of the transaction, the director directly owned 33,287 shares in the company, valued at approximately $764,602.39. This trade represents a 15.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Willis acquired 1,488 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were bought at an average price of $24.10 per share, for a total transaction of $35,860.80. Following the completion of the transaction, the executive vice president owned 41,939 shares of the company’s stock, valued at approximately $1,010,729.90. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 8,863 shares of company stock valued at $204,575. Insiders own 0.70% of the company’s stock.

Perrigo Stock Performance

NYSE PRGO opened at $23.92 on Thursday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -41.23 and a beta of 0.47. The company has a quick ratio of 1.24, a current ratio of 2.32 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $25.93 and a 200-day moving average price of $26.20. Perrigo Company plc has a twelve month low of $21.03 and a twelve month high of $30.93.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Perrigo had a positive return on equity of 9.09% and a negative net margin of 1.86%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the company earned $0.53 EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 29th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 4.9%. Perrigo’s dividend payout ratio is presently -200.00%.

Wall Street Analyst Weigh In

PRGO has been the subject of several recent research reports. Wall Street Zen lowered Perrigo from a “buy” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. cut their price target on Perrigo from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Canaccord Genuity Group cut their price target on Perrigo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Perrigo presently has an average rating of “Hold” and a consensus target price of $33.00.

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.