Bessemer Group Inc. Sells 13,678 Shares of Perrigo Company plc (NYSE:PRGO)

Bessemer Group Inc. cut its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 50.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,349 shares of the company’s stock after selling 13,678 shares during the period. Bessemer Group Inc.’s holdings in Perrigo were worth $343,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CenterBook Partners LP purchased a new position in Perrigo during the 4th quarter valued at $2,485,000. Raymond James Financial Inc. purchased a new position in shares of Perrigo during the fourth quarter valued at about $3,177,000. Invesco Ltd. raised its stake in Perrigo by 8.1% in the fourth quarter. Invesco Ltd. now owns 1,565,551 shares of the company’s stock worth $40,250,000 after buying an additional 117,469 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Perrigo in the fourth quarter worth about $573,000. Finally, Cinctive Capital Management LP bought a new stake in Perrigo during the 4th quarter valued at approximately $3,304,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Trading Up 0.2 %

Perrigo stock opened at $25.04 on Wednesday. Perrigo Company plc has a 12 month low of $23.14 and a 12 month 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 business’s fifty day simple moving average is $26.43 and its two-hundred day simple moving average is $26.06. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -21.40 and a beta of 0.49.

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

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.29 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.63%. Perrigo’s dividend payout ratio is -92.80%.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PRGO shares. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Argus lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four research 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, the company currently has a consensus rating of “Hold” and an average target price of $33.00.

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.