Quantbot Technologies LP Raises Stake in Perrigo Company plc (NYSE:PRGO)

Quantbot Technologies LP raised its stake in shares of Perrigo Company plc (NYSE:PRGO) by 1,879.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,796 shares of the company’s stock after buying an additional 13,099 shares during the quarter. Quantbot Technologies LP’s holdings in Perrigo were worth $355,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value 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. The trade was a 18.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Perrigo Trading Up 1.1 %

Shares of PRGO stock opened at $28.06 on Friday. The business has a 50-day moving average price of $26.11 and a two-hundred day moving average price of $26.17. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.83 billion, a P/E ratio of -23.98 and a beta of 0.48.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Equities analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.13%. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

Wall Street Analyst Weigh In

PRGO has been the topic of a number of research analyst reports. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Perrigo currently has an average 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.