Prudential Financial Inc. Has $2.32 Million Stake in Perrigo Company plc (NYSE:PRGO)

Prudential Financial Inc. lessened its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 49.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,355 shares of the company's stock after selling 84,669 shares during the period. Prudential Financial Inc. owned 0.06% of Perrigo worth $2,315,000 at the end of the most recent reporting period.

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

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Perrigo Price Performance

Shares of Perrigo stock traded down $1.49 during trading on Tuesday, hitting $24.56. 2,555,014 shares of the company's stock traded hands, compared to its average volume of 1,517,977. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company has a market cap of $3.35 billion, a PE ratio of -20.99 and a beta of 0.49. The firm's fifty day moving average price is $26.42 and its 200 day moving average price is $26.10.

Perrigo (NYSE:PRGO - Get Free Report) last issued its 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 business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Analysts forecast that Perrigo Company plc will post 2.56 earnings per share 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 $0.29 dividend. This is a positive change from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.16 annualized dividend and a dividend yield of 4.72%. Perrigo's dividend payout ratio is presently -92.80%.

Insider Buying and Selling

In related news, EVP Ronald Craig Janish sold 7,800 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 33,666 shares of the company's stock, valued at $923,795.04. This trade represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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