Venturi Wealth Management LLC Grows Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Venturi Wealth Management LLC grew its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 97.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,215 shares of the company’s stock after purchasing an additional 2,084 shares during the quarter. Venturi Wealth Management LLC’s holdings in Perrigo were worth $108,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Versant Capital Management Inc purchased a new position in shares of Perrigo in the 4th quarter worth $45,000. GAMMA Investing LLC raised its holdings in shares of Perrigo by 93.7% in the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock worth $49,000 after purchasing an additional 929 shares during the period. Central Pacific Bank Trust Division lifted its stake in shares of 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 purchasing an additional 500 shares in the last quarter. KBC Group NV grew its holdings in shares of 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 purchasing an additional 905 shares during the period. Finally, Voisard Asset Management Group Inc. increased its position in Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company’s stock worth $134,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

Shares of NYSE:PRGO opened at $25.37 on Monday. The firm’s 50 day moving average is $24.97 and its two-hundred day moving average is $26.24. The firm has a market capitalization of $3.46 billion, a P/E ratio of -21.68 and a beta of 0.54. 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 52 week low of $23.14 and a 52 week high of $33.46.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a dividend of $0.29 per share. This is a boost 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 yield of 4.57%. Perrigo’s payout ratio is presently -94.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRGO. Piper Sandler downgraded 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. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Perrigo currently has a consensus rating of “Hold” and an average price target of $35.00.

Insiders Place Their Bets

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

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.