Gabelli Funds LLC Trims Stake in Perrigo Company plc (NYSE:PRGO)

Gabelli Funds LLC lessened its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 414,500 shares of the company's stock after selling 10,100 shares during the period. Gabelli Funds LLC owned 0.30% of Perrigo worth $10,657,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Headlands Technologies LLC grew its holdings in Perrigo by 1,942.0% during the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after acquiring an additional 1,340 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Perrigo in the 4th quarter worth approximately $45,000. GAMMA Investing LLC increased its holdings 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 buying an additional 929 shares during the period. Central Pacific Bank Trust Division raised 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 worth $51,000 after buying an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Perrigo by 97.8% during the fourth 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 during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the completion of the transaction, the executive vice president now directly owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

Perrigo Stock Up 0.8 %

Perrigo stock traded up $0.21 during midday trading on Friday, reaching $25.35. The company's stock had a trading volume of 848,405 shares, compared to its average volume of 1,526,585. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock has a market capitalization of $3.46 billion, a P/E ratio of -21.66 and a beta of 0.49. The stock's 50-day simple moving average is $26.49 and its 200-day simple moving average is $26.05. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. On average, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.58%. This is an increase from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 7th. Perrigo's dividend payout ratio is presently -92.80%.

Perrigo 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.