Mitsubishi UFJ Trust & Banking Corp Lowers Stock Position in Perrigo Company plc (NYSE:PRGO)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Perrigo Company plc (NYSE:PRGO) by 49.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,386 shares of the company’s stock after selling 11,330 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Perrigo were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Citigroup Inc. lifted its holdings in Perrigo by 94.1% during the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock worth $3,974,000 after acquiring an additional 73,457 shares during the period. Bank of Montreal Can boosted its holdings in shares of Perrigo by 347.0% in the 3rd quarter. Bank of Montreal Can now owns 145,474 shares of the company’s stock worth $3,731,000 after buying an additional 112,929 shares during the last quarter. FMR LLC grew 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 valued at $48,271,000 after buying an additional 1,837,538 shares during the period. BNP Paribas Financial Markets increased its holdings in Perrigo by 43.8% during the third quarter. BNP Paribas Financial Markets now owns 114,937 shares of the company’s stock worth $3,015,000 after buying an additional 35,031 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Perrigo by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 419,137 shares of the company’s stock worth $10,994,000 after acquiring an additional 5,141 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Trading Up 0.8 %

Shares of PRGO opened at $27.91 on Thursday. The business’s 50-day moving average price is $26.34 and its 200-day moving average price is $26.17. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The stock has a market cap of $3.81 billion, a PE ratio of -23.85 and a beta of 0.48.

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

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.16%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. Perrigo’s payout ratio is presently -92.80%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.