Victory Capital Management Inc. Sells 8,950 Shares of Perrigo Company plc (NYSE:PRGO)

Victory Capital Management Inc. trimmed its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,413,338 shares of the company’s stock after selling 8,950 shares during the quarter. Victory Capital Management Inc.’s holdings in Perrigo were worth $36,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc bought a new stake in Perrigo in the 4th quarter valued at about $45,000. GAMMA Investing LLC raised 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 acquiring an additional 929 shares during the period. Central Pacific Bank Trust Division raised its stake in Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC bought a new stake in Perrigo in the 3rd quarter valued at about $56,000. Finally, KBC Group NV raised its stake in Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Perrigo Stock Down 3.0 %

PRGO stock opened at $27.81 on Monday. 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 capitalization of $3.79 billion, a PE ratio of -23.77 and a beta of 0.48. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The stock has a 50-day simple moving average of $25.25 and a two-hundred day simple moving average of $26.23.

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

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. 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 annualized dividend and a dividend yield of 4.17%. Perrigo’s payout ratio is presently -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.