US Bancorp DE Sells 10,882 Shares of Perrigo Company plc (NYSE:PRGO)

US Bancorp DE reduced its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 77.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,135 shares of the company's stock after selling 10,882 shares during the quarter. US Bancorp DE's holdings in Perrigo were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Perrigo by 229.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock worth $70,761,000 after purchasing an additional 1,878,145 shares during the last quarter. FMR LLC increased its holdings in Perrigo by 66,795.3% during the third quarter. FMR LLC now owns 1,840,289 shares of the company's stock worth $48,271,000 after buying an additional 1,837,538 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Perrigo during the third quarter worth $8,892,000. Access Investment Management LLC acquired a new stake in Perrigo in the fourth quarter valued at $7,989,000. Finally, Foundry Partners LLC acquired a new position in shares of Perrigo during the 3rd quarter worth about $7,111,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

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Analysts Set New Price Targets

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

Perrigo Stock Performance

Shares of NYSE PRGO traded down $0.55 during trading hours on Friday, reaching $27.95. 679,540 shares of the stock were exchanged, compared to its average volume of 1,438,102. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -23.88 and a beta of 0.48. The stock's fifty day simple moving average is $25.66 and its 200 day simple moving average is $26.18.

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

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a dividend of $0.29 per share. This is a boost from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 7th. This represents a $1.16 annualized dividend and a yield of 4.15%. Perrigo's dividend payout ratio is currently -92.80%.

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.