Franklin Resources Inc. Trims Holdings in Perrigo Company plc (NYSE:PRGO)

Franklin Resources Inc. reduced its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,944 shares of the company's stock after selling 15,767 shares during the period. Franklin Resources Inc. owned approximately 0.10% of Perrigo worth $3,547,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quantinno Capital Management LP grew its position in Perrigo by 105.2% during the third quarter. Quantinno Capital Management LP now owns 19,695 shares of the company's stock worth $517,000 after buying an additional 10,097 shares in the last quarter. Stifel Financial Corp increased its position in shares of Perrigo by 11.0% in the third quarter. Stifel Financial Corp now owns 133,278 shares of the company's stock worth $3,496,000 after purchasing an additional 13,249 shares during the last quarter. MML Investors Services LLC increased its position in shares of Perrigo by 7.7% in the third quarter. MML Investors Services LLC now owns 39,174 shares of the company's stock worth $1,028,000 after purchasing an additional 2,811 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Perrigo during the third quarter valued at approximately $1,291,000. Finally, Barclays PLC grew its stake in Perrigo by 44.8% in the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after buying an additional 37,268 shares in the last quarter. Institutional investors own 95.91% of the company's stock.

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Perrigo Trading Up 0.2 %

Perrigo stock traded up $0.04 during mid-day trading on Tuesday, hitting $25.04. The company's stock had a trading volume of 783,216 shares, compared to its average volume of 1,524,127. The business has a 50 day moving average price of $26.43 and a 200-day moving average price of $26.06. 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 Company plc has a 12 month low of $23.14 and a 12 month high of $33.46. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -21.40 and a beta of 0.49.

Perrigo (NYSE:PRGO - Get Free Report) last released its 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. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. As a group, analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.29 per share. This is a positive change from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Friday, March 7th. Perrigo's dividend payout ratio is currently -92.80%.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the business's stock in a transaction dated 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 owns 33,666 shares in the company, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler cut 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 report on Monday, January 6th. Argus lowered Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $33.00.

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.