Perrigo Company plc (NYSE:PRGO) Stake Lowered by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lowered its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,215,000 shares of the company's stock after selling 10,000 shares during the period. Edmond DE Rothschild Holding S.A. owned about 0.89% of Perrigo worth $31,238,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PRGO. Citigroup Inc. grew its position in shares of 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 last quarter. Bank of Montreal Can increased its stake in shares of Perrigo by 347.0% in the third quarter. Bank of Montreal Can now owns 145,474 shares of the company's stock valued at $3,731,000 after purchasing an additional 112,929 shares during the period. FMR LLC increased its stake in shares of Perrigo by 66,795.3% in the third quarter. FMR LLC now owns 1,840,289 shares of the company's stock valued at $48,271,000 after purchasing an additional 1,837,538 shares during the period. BNP Paribas Financial Markets lifted its holdings in Perrigo by 43.8% in the third quarter. BNP Paribas Financial Markets now owns 114,937 shares of the company's stock worth $3,015,000 after purchasing an additional 35,031 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Perrigo by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 419,137 shares of the company's stock valued at $10,994,000 after buying an additional 5,141 shares during the period. 95.91% of the stock is owned by institutional investors.

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Perrigo Price Performance

Shares of NYSE PRGO traded down $1.02 during trading on Thursday, hitting $26.89. The company had a trading volume of 1,088,323 shares, compared to its average volume of 1,497,210. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The business's 50-day moving average is $26.34 and its 200 day moving average is $26.17. The company has a market cap of $3.67 billion, a P/E ratio of -22.97 and a beta of 0.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO - Get Free Report) last issued its quarterly 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. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Equities research analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid 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 dividend on an annualized basis and a yield of 4.31%. Perrigo's dividend payout ratio (DPR) is currently -92.80%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PRGO shares. Piper Sandler lowered shares of Perrigo from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $34.00 to $27.00 in a research note on Monday, January 6th. StockNews.com downgraded Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Argus cut 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 MarketBeat, Perrigo currently has a consensus rating of "Hold" and a consensus target price of $33.00.

Insiders Place Their Bets

In related news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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.