Corebridge Financial Inc. Has $3.97 Million Stake in Perrigo Company plc (NYSE:PRGO)

Corebridge Financial Inc. reduced its holdings in Perrigo Company plc (NYSE:PRGO) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,366 shares of the company’s stock after selling 6,944 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Perrigo worth $3,969,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP grew its holdings in Perrigo by 229.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after buying an additional 1,878,145 shares during the last quarter. FMR LLC increased its position 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 acquiring an additional 1,837,538 shares during the period. Bahl & Gaynor Inc. raised its stake in Perrigo by 44.9% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company’s stock valued at $39,213,000 after purchasing an additional 472,958 shares during the last quarter. Access Investment Management LLC bought a new stake in Perrigo in the 4th quarter valued at $7,989,000. Finally, JPMorgan Chase & Co. grew its position in Perrigo by 65.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company’s stock worth $14,190,000 after purchasing an additional 213,221 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s 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 sale, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at $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. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Perrigo Stock Up 1.1 %

Shares of PRGO opened at $28.06 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $26.11 and a two-hundred day moving average price of $26.15. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -23.98 and a beta of 0.48. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.46.

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

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a $0.29 dividend. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.13%. Perrigo’s dividend payout ratio is presently -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.