Perrigo Company plc (NYSE:PRGO) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 51.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,862 shares of the company's stock after selling 38,375 shares during the period. Cannell & Spears LLC's holdings in Perrigo were worth $948,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in Perrigo by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock worth $523,000 after purchasing an additional 427 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Perrigo by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company's stock worth $567,000 after buying an additional 436 shares during the last quarter. Cedar Wealth Management LLC increased its position in Perrigo by 2.1% in the 4th quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company's stock valued at $565,000 after acquiring an additional 450 shares during the period. Central Pacific Bank Trust Division raised its stake in Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after acquiring an additional 500 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Perrigo by 0.8% during the 4th quarter. Amalgamated Bank now owns 64,086 shares of the company's stock worth $1,648,000 after acquiring an additional 522 shares during the period. 95.91% of the stock is owned by institutional investors and hedge funds.

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Perrigo Price Performance

Shares of PRGO traded down $1.02 during mid-day trading on Thursday, hitting $26.89. The company's stock had a trading volume of 2,038,728 shares, compared to its average volume of 1,500,277. 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 Company plc has a 1-year low of $23.14 and a 1-year high of $33.46. The firm has a market capitalization of $3.67 billion, a P/E ratio of -22.99 and a beta of 0.48. The firm has a 50-day simple moving average of $26.34 and a 200 day simple moving average of $26.17.

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

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were issued a $0.29 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.31%. Perrigo's dividend payout ratio (DPR) is -92.80%.

Insider Activity

In other 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 transaction, the executive vice president now 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 SEC, which is available through the SEC website. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler cut Perrigo from an "overweight" rating to a "neutral" rating and cut 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 note on Wednesday, February 19th. Four 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, the company currently has a consensus rating of "Hold" and an average target price of $33.00.

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.