Heartland Advisors Inc. Has $22.27 Million Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Heartland Advisors Inc. cut its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 23.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 866,157 shares of the company's stock after selling 261,944 shares during the period. Perrigo accounts for about 1.2% of Heartland Advisors Inc.'s holdings, making the stock its 13th biggest position. Heartland Advisors Inc. owned 0.63% of Perrigo worth $22,269,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Perrigo by 229.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock valued at $70,761,000 after buying an additional 1,878,145 shares during the period. FMR LLC increased its position in Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company's stock worth $48,271,000 after purchasing an additional 1,837,538 shares during the last quarter. Norges Bank purchased a new position in Perrigo during the fourth quarter worth approximately $36,614,000. Bahl & Gaynor Inc. boosted its holdings in shares of Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock valued at $39,213,000 after purchasing an additional 472,958 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Perrigo during the 3rd quarter worth $8,892,000. Institutional investors and hedge funds own 95.91% of the company's stock.

Wall Street Analyst Weigh In

PRGO has been the topic of a number of research analyst reports. Argus cut Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Piper Sandler lowered 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Perrigo has a consensus rating of "Hold" and a consensus price target of $33.00.

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Insider Activity at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction dated 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 owns 33,666 shares in the company, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.70% of the stock is owned by insiders.

Perrigo Stock Down 0.5 %

Shares of NYSE PRGO traded down $0.13 on Tuesday, hitting $27.91. The company had a trading volume of 235,134 shares, compared to its average volume of 1,493,029. The firm has a market capitalization of $3.81 billion, a P/E ratio of -23.86 and a beta of 0.48. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The business has a 50 day moving average of $26.19 and a two-hundred day moving average of $26.16.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. As a group, equities research analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal 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 issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, March 7th. This is a boost from Perrigo's previous quarterly dividend of $0.28. Perrigo's payout ratio is -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.