Invesco Ltd. Increases Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Invesco Ltd. boosted its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,565,551 shares of the company's stock after acquiring an additional 117,469 shares during the period. Invesco Ltd. owned 1.15% of Perrigo worth $40,250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PRGO. Pacer Advisors Inc. raised its position in Perrigo by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock valued at $523,000 after purchasing an additional 427 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Perrigo by 2.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company's stock worth $567,000 after purchasing an additional 436 shares during the period. Cedar Wealth Management LLC lifted its stake in Perrigo by 2.1% in the fourth quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company's stock worth $565,000 after acquiring an additional 450 shares during the period. Central Pacific Bank Trust Division lifted its holdings in Perrigo by 33.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock worth $51,000 after buying an additional 500 shares during the period. Finally, Amalgamated Bank grew its stake in Perrigo by 0.8% in the fourth quarter. Amalgamated Bank now owns 64,086 shares of the company's stock valued at $1,648,000 after purchasing an additional 522 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRGO. Piper Sandler cut Perrigo from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $34.00 to $27.00 in a research note 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 shares of Perrigo from a "buy" rating to a "hold" rating in a research note 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $33.00.

Perrigo Price Performance

Shares of NYSE PRGO traded up $0.21 during midday trading on Friday, hitting $25.35. The stock had a trading volume of 848,405 shares, compared to its average volume of 1,526,585. The stock has a 50 day simple moving average of $26.49 and a 200-day simple moving average of $26.05. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $3.46 billion, a PE ratio of -21.66 and a beta of 0.49. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.20 billion. On average, sell-side analysts expect 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 given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Perrigo's previous quarterly dividend of $0.28. Perrigo's dividend payout ratio (DPR) is -92.80%.

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred on Monday, March 10th. The stock was 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 of the company's stock, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Perrigo 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.