Advisors Asset Management Inc. Reduces Stake in Perrigo Company plc (NYSE:PRGO)

Advisors Asset Management Inc. lessened its stake in shares of Perrigo Company plc (NYSE:PRGO) by 9.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,736 shares of the company’s stock after selling 5,885 shares during the period. Advisors Asset Management Inc.’s holdings in Perrigo were worth $1,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in Perrigo during the fourth quarter worth about $30,000. Parkside Financial Bank & Trust increased its holdings in shares of Perrigo by 1,694.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,041 shares of the company’s stock worth $34,000 after buying an additional 983 shares during the last quarter. Hexagon Capital Partners LLC purchased a new stake in shares of Perrigo during the 4th quarter valued at approximately $37,000. Central Pacific Bank Trust Division acquired a new position in Perrigo in the first quarter valued at approximately $48,000. Finally, Blue Trust Inc. grew its position in Perrigo by 34.5% in the fourth quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reduced their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a report on Friday, April 12th. Finally, StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd.

Perrigo Stock Up 0.1 %

Shares of Perrigo stock opened at $28.11 on Friday. The business has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $29.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. Perrigo Company plc has a one year low of $24.82 and a one year high of $40.28.

Perrigo (NYSE:PRGO) last posted its earnings results on Saturday, May 4th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. Perrigo’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, May 31st were paid a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a yield of 3.93%. The ex-dividend date was Friday, May 31st. Perrigo’s payout ratio is -1,571.43%.

Insider Activity at Perrigo

In related news, EVP Svend Andersen acquired 1,000 shares of Perrigo stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at $2,841,698.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.