West Tower Group LLC Has $2.68 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

West Tower Group LLC increased its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 174.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 101,992 shares of the company's stock after purchasing an additional 64,766 shares during the period. Perrigo accounts for 5.7% of West Tower Group LLC's investment portfolio, making the stock its 2nd largest position. West Tower Group LLC owned about 0.07% of Perrigo worth $2,675,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. raised its stake in Perrigo by 83.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company's stock valued at $49,821,000 after purchasing an additional 881,191 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Perrigo by 675.5% during the 2nd quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock valued at $24,926,000 after buying an additional 845,470 shares in the last quarter. Copeland Capital Management LLC lifted 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 last quarter. Deprince Race & Zollo Inc. grew its position in Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock worth $99,701,000 after acquiring an additional 391,646 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Perrigo by 58.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company's stock valued at $27,271,000 after acquiring an additional 383,728 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Performance

PRGO traded up $0.04 during mid-day trading on Tuesday, reaching $28.44. 529,305 shares of the company traded hands, compared to its average volume of 1,621,990. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $3.88 billion, a P/E ratio of -24.27 and a beta of 0.48. The company's fifty day moving average price is $25.99 and its 200-day moving average price is $27.06. Perrigo Company plc has a 52-week low of $23.89 and a 52-week high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Perrigo's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. On average, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be given a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.88%. Perrigo's dividend payout ratio is -94.02%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRGO. Canaccord Genuity Group reaffirmed a "buy" rating and set a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. Jefferies Financial Group reaffirmed a "hold" rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Perrigo from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Insider Activity at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by corporate insiders.

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.