West Tower Group LLC Purchases 16,922 Shares of Perrigo Company plc (NYSE:PRGO)

West Tower Group LLC grew its position in Perrigo Company plc (NYSE:PRGO) by 16.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,914 shares of the company’s stock after purchasing an additional 16,922 shares during the period. Perrigo comprises approximately 6.8% of West Tower Group LLC’s holdings, making the stock its biggest holding. West Tower Group LLC owned about 0.09% of Perrigo worth $3,057,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Perrigo in the 4th quarter valued at $45,000. GAMMA Investing LLC lifted its position in Perrigo by 93.7% during the 4th 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 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 buying an additional 500 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Perrigo by 97.8% during the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company’s stock worth $108,000 after buying an additional 2,084 shares in the last quarter. Finally, KBC Group NV lifted its position in Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after buying an additional 905 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

Perrigo Stock Performance

Shares of NYSE:PRGO opened at $27.83 on Wednesday. The stock has a market capitalization of $3.80 billion, a P/E ratio of -23.78 and a beta of 0.48. The business has a 50-day moving average price of $25.53 and a two-hundred day moving average price of $26.16. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.46.

Perrigo (NYSE:PRGO) last announced its quarterly 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 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%. Equities analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.29 per share. This is an increase from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 4.17%. The ex-dividend date is Friday, March 7th. 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.