KBC Group NV Increases Stock Holdings in Perrigo Company plc (NYSE:PRGO)

KBC Group NV boosted its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 2,375.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,832 shares of the company's stock after purchasing an additional 107,315 shares during the period. KBC Group NV owned about 0.08% of Perrigo worth $2,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Perrigo by 229.2% during the third 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 boosted its position in Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company's stock valued at $48,271,000 after acquiring an additional 1,837,538 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Perrigo by 23.1% during the 3rd quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock worth $65,117,000 after acquiring an additional 465,161 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Perrigo by 58.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company's stock worth $27,271,000 after acquiring an additional 383,728 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Perrigo in the 3rd quarter valued at approximately $9,846,000. Institutional investors own 95.91% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PRGO. Piper Sandler cut 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 note on Monday, January 6th. Argus downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, StockNews.com cut shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Saturday, January 11th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Perrigo currently has a consensus rating of "Hold" and an average target price of $35.00.

Perrigo Stock Down 0.0 %

Perrigo stock traded down $0.01 during mid-day trading on Tuesday, hitting $25.08. The company had a trading volume of 1,183,518 shares, compared to its average volume of 1,378,555. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. The company has a market capitalization of $3.42 billion, a PE ratio of -21.44 and a beta of 0.54. The stock's 50 day moving average price is $25.88 and its two-hundred day moving average price is $26.55. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly 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. The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Perrigo's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, sell-side analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now directly owns 5,409 shares of the company's stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company's stock.

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.