GABELLI & Co INVESTMENT ADVISERS INC. Invests $386,000 in Perrigo Company plc (NYSE:PRGO)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,000 shares of the company's stock, valued at approximately $386,000.

A number of other hedge funds have also recently modified their holdings of PRGO. Headlands Technologies LLC lifted its holdings in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after purchasing an additional 1,340 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Perrigo during the 4th quarter valued at $45,000. GAMMA Investing LLC lifted its stake in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock worth $51,000 after buying an additional 500 shares during the period. Finally, Venturi Wealth Management LLC increased its stake 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 buying an additional 2,084 shares in the last quarter. Institutional investors own 95.91% of the company's stock.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction 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 in the company, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Perrigo Price Performance

Shares of PRGO stock traded up $0.21 during trading hours on Friday, hitting $25.35. The stock had a trading volume of 848,405 shares, compared to its average volume of 1,525,151. The stock's 50-day moving average price is $26.49 and its two-hundred day moving average price is $26.04. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.46. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -21.66 and a beta of 0.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo (NYSE:PRGO - Get Free Report) last posted its 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. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Equities analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.58%. This is a boost from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 7th. Perrigo's dividend payout ratio 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.