Renaissance Technologies LLC Sells 214,214 Shares of Perrigo Company plc (NYSE:PRGO)

Renaissance Technologies LLC lessened its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 28.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 546,696 shares of the company's stock after selling 214,214 shares during the quarter. Renaissance Technologies LLC owned about 0.40% of Perrigo worth $14,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Perrigo by 8.1% in the fourth quarter. Invesco Ltd. now owns 1,565,551 shares of the company's stock valued at $40,250,000 after buying an additional 117,469 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Perrigo during the 4th quarter worth about $573,000. Cinctive Capital Management LP acquired a new stake in shares of Perrigo during the fourth quarter worth approximately $3,304,000. Trexquant Investment LP purchased a new stake in Perrigo in the 4th quarter worth approximately $1,207,000. Finally, Headlands Technologies LLC increased its stake in shares of Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after acquiring an additional 1,340 shares during the last quarter. Institutional investors own 95.91% of the company's stock.

Perrigo Stock Performance

PRGO traded up $0.21 on Friday, hitting $25.35. The company had a trading volume of 848,405 shares, compared to its average volume of 1,525,151. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -21.66 and a beta of 0.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company's fifty day moving average price is $26.49 and its 200 day moving average price is $26.04. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.46.

Perrigo (NYSE:PRGO - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. The business had revenue of $1.14 billion for 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%. Equities analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The business 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 is an increase from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.58%. Perrigo's dividend payout ratio (DPR) is presently -92.80%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PRGO. StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Piper Sandler downgraded Perrigo from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Finally, Argus downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Perrigo has an average rating of "Hold" and an average price target of $33.00.

Insider Activity at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now directly owns 33,666 shares in the company, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% 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.