UMB Bank n.a. Lowers Stake in Perrigo Company plc (NYSE:PRGO)

UMB Bank n.a. trimmed its stake in Perrigo Company plc (NYSE:PRGOFree Report) by 41.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,442 shares of the company’s stock after selling 1,021 shares during the period. UMB Bank n.a.’s holdings in Perrigo were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PRGO. Versant Capital Management Inc acquired a new position in shares of Perrigo during the fourth quarter worth $45,000. GAMMA Investing LLC raised its stake in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after buying an additional 929 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after acquiring an additional 500 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Perrigo during the third quarter worth about $56,000. Finally, KBC Group NV increased its holdings in shares of Perrigo by 25.1% during the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares in the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PRGO shares. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $27.00 in a research note on Monday, January 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Finally, Argus lowered Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Get Our Latest Stock Report on Perrigo

Insider Activity

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares of the company’s stock, valued at $152,912.43. The trade was a 76.49 % 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. Company insiders own 0.70% of the company’s stock.

Perrigo Stock Down 0.3 %

Shares of PRGO stock opened at $24.67 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.51. The stock has a 50 day moving average of $26.25 and a 200 day moving average of $26.68. The stock has a market cap of $3.37 billion, a P/E ratio of -21.08 and a beta of 0.53.

Perrigo (NYSE:PRGOGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, November 29th. Perrigo’s payout ratio is currently -94.02%.

Perrigo Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Perrigo (NYSE:PRGO)

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