Envestnet Asset Management Inc. Sells 136,414 Shares of Perrigo Company plc (NYSE:PRGO)

Envestnet Asset Management Inc. lowered its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 26.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,430 shares of the company's stock after selling 136,414 shares during the quarter. Envestnet Asset Management Inc. owned 0.28% of Perrigo worth $9,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Perrigo during the 4th quarter valued at approximately $36,614,000. Bahl & Gaynor Inc. increased its holdings in Perrigo by 44.9% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,525,197 shares of the company's stock valued at $39,213,000 after acquiring an additional 472,958 shares during the last quarter. Access Investment Management LLC purchased a new stake in Perrigo in the 4th quarter worth $7,989,000. JPMorgan Chase & Co. boosted its holdings in shares of Perrigo by 65.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock valued at $14,190,000 after purchasing an additional 213,221 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Perrigo during the third quarter valued at about $3,717,000. 95.91% of the stock is owned by hedge funds and other institutional investors.

Perrigo Trading Up 0.7 %

Shares of Perrigo stock traded up $0.19 on Thursday, reaching $24.93. The company had a trading volume of 219,126 shares, compared to its average volume of 1,519,239. The firm's 50-day moving average price is $26.49 and its two-hundred day moving average price is $26.04. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -21.30 and a beta of 0.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77.

Perrigo (NYSE:PRGO - Get Free Report) last posted 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 company had revenue of $1.14 billion during 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%. As a group, 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. Shareholders of record on Friday, March 7th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.65%. This is an increase from Perrigo's previous quarterly dividend of $0.28. Perrigo's dividend payout ratio (DPR) is presently -92.80%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PRGO shares. StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Piper Sandler downgraded Perrigo from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, Argus cut shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $33.00.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business'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 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. 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 this link. Company 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.