Bank of Montreal Can Has $514,000 Stake in Perrigo Company plc (NYSE:PRGO)

Bank of Montreal Can lessened its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 86.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,003 shares of the company’s stock after selling 125,471 shares during the quarter. Bank of Montreal Can’s holdings in Perrigo were worth $514,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its holdings in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after purchasing an additional 1,340 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Perrigo during the 4th quarter worth $45,000. GAMMA Investing LLC grew its stake in Perrigo by 93.7% in the 4th 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 lifted its position in Perrigo by 33.3% during the 4th 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 during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock valued at $108,000 after acquiring an additional 2,084 shares during the period. 95.91% of the stock is owned by institutional investors.

Perrigo Stock Performance

PRGO opened at $24.41 on Tuesday. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock’s 50 day simple moving average is $26.49 and its 200-day simple moving average is $26.05. The stock has a market cap of $3.33 billion, a PE ratio of -20.86 and a beta of 0.49.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Sell-side analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a dividend of $0.29 per share. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Friday, March 7th. Perrigo’s dividend payout ratio is currently -92.80%.

Analysts Set New Price Targets

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

Insider Activity

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Perrigo Company Profile

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.