Quantbot Technologies LP Grows Position in Perrigo Company plc (NYSE:PRGO)

Quantbot Technologies LP boosted its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 1,879.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,796 shares of the company's stock after acquiring an additional 13,099 shares during the period. Quantbot Technologies LP's holdings in Perrigo were worth $355,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Perrigo during the fourth quarter valued at about $45,000. GAMMA Investing LLC increased its holdings in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after buying an additional 929 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after purchasing an additional 500 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Perrigo by 97.8% during the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock valued at $108,000 after buying an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Perrigo in the 4th quarter worth approximately $149,000. Hedge funds and other institutional investors own 95.91% of the company's stock.

Insiders Place Their Bets

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares of the company's stock, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company's stock.

Remove Ads

Perrigo Stock Up 0.8 %

PRGO traded up $0.21 during trading on Wednesday, hitting $27.91. 840,290 shares of the company's stock traded hands, compared to its average volume of 1,498,132. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The company's 50 day simple moving average is $26.34 and its two-hundred day simple moving average is $26.17. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -23.85 and a beta of 0.48.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a $0.29 dividend. This represents a $1.16 annualized dividend 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 dividend payout ratio is -92.80%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PRGO. Piper Sandler lowered Perrigo from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Argus lowered 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 report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Perrigo currently has a consensus rating of "Hold" and an average target price of $33.00.

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.