Perrigo Company plc (NYSE:PRGO) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in Perrigo Company plc (NYSE:PRGO) by 73.1% during the 4th quarter, Holdings Channel reports. The fund owned 10,463 shares of the company’s stock after selling 28,366 shares during the quarter. Corient Private Wealth LLC’s holdings in Perrigo were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRGO. Wellington Management Group LLP increased its holdings in Perrigo by 229.2% during the 3rd 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 position in shares of 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. increased its stake in shares of 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 during the period. Access Investment Management LLC acquired a new stake in Perrigo in the fourth quarter valued at approximately $7,989,000. Finally, JPMorgan Chase & Co. lifted its stake in Perrigo by 65.1% in the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company’s stock worth $14,190,000 after acquiring an additional 213,221 shares during the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm’s 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 transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. This trade represents a 18.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Perrigo Stock Up 0.0 %

PRGO stock opened at $28.07 on Tuesday. The company’s 50 day moving average is $26.19 and its two-hundred day moving average is $26.16. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock has a market cap of $3.83 billion, a P/E ratio of -23.99 and a beta of 0.48.

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 firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Research analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors 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 yield of 4.13%. The ex-dividend date was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is currently -92.80%.

Perrigo Company 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.