Mitsubishi UFJ Trust & Banking Corp Sells 11,330 Shares of Perrigo Company plc (NYSE:PRGO)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 49.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,386 shares of the company's stock after selling 11,330 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Perrigo were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRGO. Versant Capital Management Inc bought a new position in Perrigo in the 4th quarter worth $45,000. GAMMA Investing LLC boosted its position in Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after acquiring an additional 929 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock worth $51,000 after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC raised its position in shares of Perrigo by 97.8% in the 4th quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock worth $108,000 after acquiring an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Perrigo in the 4th quarter valued at approximately $149,000. Institutional investors own 95.91% of the company's stock.

Perrigo Stock Down 1.1 %

Shares of NYSE PRGO traded down $0.29 during trading on Monday, reaching $26.02. The company had a trading volume of 2,804,978 shares, compared to its average volume of 1,513,100. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. 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 business's 50-day moving average is $26.43 and its 200 day moving average is $26.13. The stock has a market cap of $3.55 billion, a PE ratio of -22.24 and a beta of 0.49.

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Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly 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. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations 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, equities analysts forecast 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 issued a $0.29 dividend. 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 yield of 4.46%. The ex-dividend date of this dividend was Friday, March 7th. Perrigo's payout ratio is presently -92.80%.

Insider Activity at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction that occurred on Monday, March 10th. The shares were 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 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 legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRGO. Argus cut Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Piper Sandler downgraded shares of Perrigo from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, StockNews.com cut shares of 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 assigned a buy rating to the company. According to MarketBeat.com, Perrigo presently has a consensus rating of "Hold" and an average price target 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.