Perrigo Company plc (NYSE:PRGO) Stock Holdings Lessened by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in shares of Perrigo Company plc (NYSE:PRGO) by 51.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,862 shares of the company’s stock after selling 38,375 shares during the period. Cannell & Spears LLC’s holdings in Perrigo were worth $948,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new stake in shares of Perrigo during the 4th quarter valued at $45,000. GAMMA Investing LLC boosted its position in Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after purchasing an additional 929 shares during the last quarter. Central Pacific Bank Trust Division grew its stake in Perrigo by 33.3% in the fourth 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 increased its position in Perrigo by 97.8% in the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Perrigo in the 4th quarter worth about $149,000. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PRGO shares. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Argus downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $27.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Perrigo has a consensus rating of “Hold” and an average target price of $33.00.

Insider Transactions at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the sale, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Perrigo Stock Up 0.0 %

Shares of PRGO stock opened at $28.07 on Tuesday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock’s 50 day simple moving average is $26.19 and its 200 day simple moving average is $26.16. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. As a group, research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a $0.29 dividend. This is an increase from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Friday, March 7th. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

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.