Perrigo Company plc (NYSE:PRGO) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its position in shares of Perrigo Company plc (NYSE:PRGO) by 25.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,500 shares of the company’s stock after selling 137,200 shares during the period. Gabelli Funds LLC owned about 0.30% of Perrigo worth $13,665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its position in Perrigo by 73.0% in the first quarter. CWM LLC now owns 699 shares of the company’s stock worth $25,000 after buying an additional 295 shares during the period. Dark Forest Capital Management LP acquired a new stake in Perrigo in the first quarter worth $31,000. NewEdge Advisors LLC increased its position in Perrigo by 345.5% in the first quarter. NewEdge Advisors LLC now owns 1,430 shares of the company’s stock worth $51,000 after buying an additional 1,109 shares during the period. Signaturefd LLC increased its position in Perrigo by 319.5% in the first quarter. Signaturefd LLC now owns 1,699 shares of the company’s stock worth $61,000 after buying an additional 1,294 shares during the period. Finally, Covestor Ltd increased its position in Perrigo by 5,903.6% in the first quarter. Covestor Ltd now owns 1,681 shares of the company’s stock worth $65,000 after buying an additional 1,653 shares during the period. 95.74% of the stock is owned by institutional investors and hedge funds.

Perrigo Price Performance

Shares of PRGO opened at $30.43 on Tuesday. The stock’s fifty day moving average is $30.34 and its 200-day moving average is $33.27. Perrigo Company plc has a one year low of $26.81 and a one year high of $40.28. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 608.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.60 and a current ratio of 2.74.

Perrigo (NYSE:PRGO) last announced its earnings results on Tuesday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Perrigo had a return on equity of 6.98% and a net margin of 0.15%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted $0.56 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Perrigo Company plc will post 2.55 EPS for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be paid a dividend of $0.273 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.09 annualized dividend and a yield of 3.59%. Perrigo’s dividend payout ratio is currently 2,180.00%.

Insider Activity at Perrigo

In other news, CEO Patrick Lockwood-Taylor bought 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $28.99 per share, with a total value of $318,890.00. Following the completion of the purchase, the chief executive officer now directly owns 11,000 shares of the company’s stock, valued at approximately $318,890. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Patrick Lockwood-Taylor purchased 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $28.99 per share, for a total transaction of $318,890.00. Following the transaction, the chief executive officer now directly owns 11,000 shares of the company’s stock, valued at approximately $318,890. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eduardo Guarita Bezerra purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average price of $29.18 per share, with a total value of $145,900.00. Following the transaction, the chief financial officer now directly owns 8,428 shares in the company, valued at $245,929.04. The disclosure for this purchase can be found here. Insiders bought 18,040 shares of company stock valued at $524,644 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Perrigo from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Piper Sandler initiated coverage on Perrigo in a report on Friday. They set an “overweight” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.25.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in Ireland, the United States, France, Belgium, China, the United Kingdom, Germany, Switzerland, Austria, Italy, Australia, Greece, and Spain. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments.