Bahl & Gaynor Inc. Grows Holdings in Perrigo Company plc (NYSE:PRGO)

Bahl & Gaynor Inc. raised its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,525,197 shares of the company's stock after acquiring an additional 472,958 shares during the period. Bahl & Gaynor Inc. owned approximately 1.12% of Perrigo worth $39,213,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. bought a new stake in shares of Perrigo during the 3rd quarter worth $3,717,000. Foundry Partners LLC bought a new stake in Perrigo during the third quarter worth about $7,111,000. Barclays PLC lifted its stake in Perrigo by 44.8% during the third quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after purchasing an additional 37,268 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Perrigo by 65.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock worth $14,190,000 after purchasing an additional 213,221 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Perrigo by 94.1% during the 3rd quarter. Citigroup Inc. now owns 151,520 shares of the company's stock valued at $3,974,000 after purchasing an additional 73,457 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Wall Street Analyst Weigh In

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

Remove Ads

Perrigo Trading Down 3.0 %

Perrigo stock traded down $0.87 during trading hours on Friday, reaching $27.81. The company had a trading volume of 1,927,585 shares, compared to its average volume of 1,466,127. 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 Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The company has a 50-day moving average price of $25.21 and a 200 day moving average price of $26.25. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -23.77 and a beta of 0.48.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping the consensus estimate 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%. Equities analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. This is a positive change from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, March 7th. Perrigo's dividend payout ratio is currently -92.80%.

Insider Activity at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the sale, the director now owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is owned by company 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.