Factorial Partners LLC Cuts Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Factorial Partners LLC lessened its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 61.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,000 shares of the company's stock after selling 32,000 shares during the quarter. Factorial Partners LLC's holdings in Perrigo were worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in Perrigo during the 3rd quarter valued at about $56,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Perrigo in the second quarter worth $72,000. KBC Group NV boosted its position in shares of Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company's stock valued at $118,000 after buying an additional 905 shares during the last quarter. Voisard Asset Management Group Inc. raised its stake in shares of Perrigo by 520.0% in the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company's stock worth $119,000 after buying an additional 3,900 shares during the period. Finally, Atria Investments Inc bought a new stake in Perrigo during the 3rd quarter valued at approximately $208,000. Institutional investors own 95.91% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PRGO. Jefferies Financial Group restated a "hold" rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Perrigo Stock Performance

Shares of PRGO traded down $0.09 during mid-day trading on Wednesday, reaching $27.15. 1,231,990 shares of the company's stock traded hands, compared to its average volume of 1,626,765. Perrigo Company plc has a 12 month low of $23.89 and a 12 month high of $34.60. 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 has a market capitalization of $3.70 billion, a P/E ratio of -23.28 and a beta of 0.48. The business's 50-day moving average price is $25.97 and its 200-day moving average price is $27.17.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $0.64 earnings per share. Perrigo's quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.07%. Perrigo's dividend payout ratio (DPR) is currently -94.02%.

Insider Activity at Perrigo

In other news, EVP Ronald Craig Janish sold 13,000 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now owns 20,553 shares of the company's stock, valued at $604,258.20. This represents a 38.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Katherine C. Doyle sold 8,954 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This trade represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Perrigo Company 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.