Diamond Hill Capital Management Inc. Has $48.42 Million Stake in Perrigo Company plc (NYSE:PRGO)

Diamond Hill Capital Management Inc. trimmed its position in shares of Perrigo Company plc (NYSE:PRGO) by 2.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,883,483 shares of the company’s stock after selling 38,352 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Perrigo were worth $48,424,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRGO. Wellington Management Group LLP raised its position in shares of Perrigo by 229.2% during the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock worth $70,761,000 after purchasing an additional 1,878,145 shares during the period. FMR LLC grew its holdings in Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company’s stock worth $48,271,000 after buying an additional 1,837,538 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in Perrigo by 44.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock worth $39,213,000 after buying an additional 472,958 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Perrigo during the third quarter worth $8,892,000. Finally, Access Investment Management LLC bought a new stake in Perrigo during the fourth quarter worth $7,989,000. 95.91% of the stock is owned by institutional investors and hedge funds.

Perrigo Stock Down 2.2 %

Shares of NYSE:PRGO opened at $26.88 on Friday. The company has a market capitalization of $3.67 billion, a PE ratio of -22.97 and a beta of 0.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The business has a fifty day moving average price of $25.38 and a two-hundred day moving average price of $26.22. 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 data on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Finally, StockNews.com downgraded 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 assigned a buy rating to the stock. According to MarketBeat, Perrigo presently has an average rating of “Hold” and an average target price of $33.00.

Insider Buying and Selling at Perrigo

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

Perrigo 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.