Perrigo Company plc (NYSE:PRGO) Stake Boosted by West Tower Group LLC

West Tower Group LLC lifted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,914 shares of the company's stock after purchasing an additional 16,922 shares during the period. Perrigo comprises 6.8% of West Tower Group LLC's holdings, making the stock its biggest holding. West Tower Group LLC owned about 0.09% of Perrigo worth $3,057,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cooke & Bieler LP boosted its position in Perrigo by 4.1% during the fourth quarter. Cooke & Bieler LP now owns 3,573,651 shares of the company's stock valued at $91,879,000 after purchasing an additional 139,650 shares during the last quarter. Wellington Management Group LLP grew its position in Perrigo by 229.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock worth $70,761,000 after purchasing an additional 1,878,145 shares during the last quarter. Geode Capital Management LLC raised its holdings in Perrigo by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,359,072 shares of the company's stock valued at $61,894,000 after acquiring an additional 106,356 shares in the last quarter. FMR LLC boosted its stake in Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company's stock worth $48,271,000 after buying an additional 1,837,538 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in Perrigo by 44.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock worth $39,213,000 after purchasing an additional 472,958 shares during the period. 95.91% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction dated 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 directly owns 33,666 shares of the company's stock, valued at $923,795.04. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Perrigo Price Performance

NYSE:PRGO traded down $0.55 during trading hours on Friday, hitting $27.95. The company's stock had a trading volume of 2,015,681 shares, compared to its average volume of 1,435,769. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. 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 stock has a fifty day simple moving average of $25.73 and a 200-day simple moving average of $26.16. The company has a market capitalization of $3.81 billion, a P/E ratio of -23.88 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. On average, analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.29 dividend. This is an increase from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.15%. The ex-dividend date is Friday, March 7th. Perrigo's payout ratio is -92.80%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Piper Sandler lowered shares of Perrigo from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Finally, Argus lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Perrigo presently 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.