Corient Private Wealth LLC Decreases Stake in Perrigo Company plc (NYSE:PRGO)

Corient Private Wealth LLC lowered its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 73.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,463 shares of the company's stock after selling 28,366 shares during the period. Corient Private Wealth LLC's holdings in Perrigo were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PRGO. Wellington Management Group LLP grew its stake in shares of 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 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 during the period. Bahl & Gaynor Inc. increased its holdings in Perrigo by 44.9% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock valued at $39,213,000 after buying an additional 472,958 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of Perrigo during the 4th quarter worth approximately $7,989,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of 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 acquiring an additional 213,221 shares during the period. Hedge funds and other institutional investors own 95.91% of the company's stock.

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Insider Activity at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the transaction, the executive vice president now owns 33,666 shares in the company, valued at $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 is available through the SEC website. Company insiders own 0.70% of the company's stock.

Perrigo Trading Up 0.8 %

Shares of PRGO traded up $0.21 during trading hours on Wednesday, hitting $27.91. The stock had a trading volume of 840,290 shares, compared to its average volume of 1,498,132. The company's fifty day simple moving average is $26.26 and its 200 day simple moving average is $26.16. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. 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 $3.81 billion, a P/E ratio of -23.85 and a beta of 0.48.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.20 billion. Equities research 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. Stockholders of record on Friday, March 7th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.16%. 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%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Argus downgraded Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Piper Sandler lowered shares of 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 research report on Monday, January 6th. Finally, StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $33.00.

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.