Sei Investments Co. Lowers Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Sei Investments Co. lowered its position in shares of Perrigo Company plc (NYSE:PRGO) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 368,281 shares of the company’s stock after selling 9,463 shares during the period. Sei Investments Co.’s holdings in Perrigo were worth $9,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRGO. Quantbot Technologies LP boosted its stake in Perrigo by 1,879.3% during the fourth quarter. Quantbot Technologies LP now owns 13,796 shares of the company’s stock valued at $355,000 after buying an additional 13,099 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Perrigo by 18.2% during the fourth quarter. Teacher Retirement System of Texas now owns 40,411 shares of the company’s stock worth $1,039,000 after purchasing an additional 6,220 shares in the last quarter. West Tower Group LLC raised its stake in Perrigo by 16.6% in the fourth quarter. West Tower Group LLC now owns 118,914 shares of the company’s stock valued at $3,057,000 after purchasing an additional 16,922 shares in the last quarter. Xponance Inc. lifted its position in Perrigo by 11.7% during the fourth quarter. Xponance Inc. now owns 24,883 shares of the company’s stock valued at $640,000 after purchasing an additional 2,599 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in Perrigo in the 4th quarter worth approximately $1,466,000. Institutional investors own 95.91% of the company’s stock.

Perrigo Price Performance

PRGO stock opened at $28.06 on Monday. 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 $3.83 billion, a P/E ratio of -23.98 and a beta of 0.48. The firm’s fifty day moving average is $26.11 and its 200 day moving average is $26.15. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.14 billion for 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%. Research analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is -92.80%.

Wall Street Analyst Weigh In

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

Insider Transactions at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 33,666 shares of the company’s stock, valued at $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

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.