SRS Capital Advisors Inc. Sells 2,228 Shares of Perrigo Company plc (NYSE:PRGO)

SRS Capital Advisors Inc. lessened its stake in shares of Perrigo Company plc (NYSE:PRGO) by 67.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,085 shares of the company’s stock after selling 2,228 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Perrigo were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PRGO. Versant Capital Management Inc bought a new stake in Perrigo during the 4th quarter valued at $45,000. GAMMA Investing LLC boosted its position in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after acquiring an additional 929 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Perrigo in the 3rd quarter worth $56,000. Finally, KBC Group NV boosted its position in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after purchasing an additional 905 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRGO. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.00.

Insider Buying and Selling

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by company insiders.

Perrigo Stock Performance

Shares of PRGO stock opened at $27.81 on Friday. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -23.77 and a beta of 0.48. 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 business has a fifty day moving average of $25.21 and a 200 day moving average of $26.25. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46.

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 analysts’ consensus estimates of $0.92 by $0.01. The company 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%. As a group, research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.29 dividend. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a yield of 4.17%. Perrigo’s dividend payout ratio (DPR) is -92.80%.

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.