Van ECK Associates Corp Sells 18,130 Shares of Perrigo Company plc (NYSE:PRGO)

Van ECK Associates Corp trimmed its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,531 shares of the company's stock after selling 18,130 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of Perrigo worth $2,559,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock valued at $70,761,000 after buying an additional 1,878,145 shares during the last quarter. FMR LLC lifted its position in shares of Perrigo by 66,795.3% in the third quarter. FMR LLC now owns 1,840,289 shares of the company's stock valued at $48,271,000 after buying an additional 1,837,538 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 383,728 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Perrigo in the third quarter valued at approximately $8,892,000. Finally, Foundry Partners LLC acquired a new stake in shares of Perrigo in the third quarter valued at approximately $7,111,000. 95.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the transaction, the director now directly owns 5,409 shares of the company's stock, valued at $152,912.43. The trade was a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company's stock.

Perrigo Price Performance

NYSE PRGO traded up $0.13 during midday trading on Friday, hitting $25.37. The company had a trading volume of 1,875,790 shares, compared to its average volume of 1,321,758. The company has a market capitalization of $3.46 billion, a PE ratio of -21.68 and a beta of 0.54. 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 firm has a 50-day moving average price of $25.01 and a 200-day moving average price of $26.28. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a $0.29 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.57%. Perrigo's payout ratio is currently -94.02%.

Analysts Set New Price Targets

Several research firms recently weighed in on PRGO. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday. Argus cut Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Piper Sandler cut Perrigo from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.00.

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.