Federated Hermes Inc. Sells 1,173 Shares of Perrigo Company plc (NYSE:PRGO)

Federated Hermes Inc. lessened its position in shares of Perrigo Company plc (NYSE:PRGO) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,823 shares of the company’s stock after selling 1,173 shares during the quarter. Federated Hermes Inc.’s holdings in Perrigo were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PRGO. Headlands Technologies LLC raised its position in Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock worth $36,000 after acquiring an additional 1,340 shares during the period. Versant Capital Management Inc bought a new stake in Perrigo during the fourth quarter valued at about $45,000. GAMMA Investing LLC increased its position in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after buying an additional 929 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in shares of Perrigo by 33.3% during 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. Finally, Venturi Wealth Management LLC lifted 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 purchasing an additional 2,084 shares in the last quarter. Institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

Perrigo Trading Up 0.8 %

PRGO stock opened at $25.35 on Friday. The firm has a fifty day moving average price of $26.46 and a 200 day moving average price of $26.04. Perrigo Company plc has a fifty-two week low of $23.14 and a fifty-two week high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market cap of $3.46 billion, a PE ratio of -21.66 and a beta of 0.49.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Sell-side analysts anticipate 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 issued a dividend of $0.29 per share. The ex-dividend date was Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a yield of 4.58%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s payout ratio is presently -92.80%.

Insider Activity

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the transaction, the executive vice president now owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

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.