Sei Investments Co. Cuts Stake in Perrigo Company plc (NYSE:PRGO)

Sei Investments Co. cut its stake in Perrigo Company plc (NYSE:PRGO - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 368,281 shares of the company's stock after selling 9,463 shares during the period. Sei Investments Co. owned 0.27% of Perrigo worth $9,469,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PRGO. Pacer Advisors Inc. boosted its stake in Perrigo by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock worth $523,000 after acquiring an additional 427 shares in the last quarter. 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 valued at $567,000 after purchasing an additional 436 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock worth $51,000 after purchasing an additional 500 shares in the last quarter. Amalgamated Bank grew its stake in shares of Perrigo by 0.8% in the 4th quarter. Amalgamated Bank now owns 64,086 shares of the company's stock worth $1,648,000 after buying an additional 522 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 buying an additional 929 shares in the last quarter. Institutional investors own 95.91% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Argus cut Perrigo from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Piper Sandler cut shares of 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. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Perrigo has a consensus rating of "Hold" and a consensus target price of $33.00.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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. This represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.70% of the company's stock.

Perrigo Stock Performance

Shares of Perrigo stock traded down $1.02 during trading on Thursday, hitting $26.89. 2,038,728 shares of the company's stock traded hands, compared to its average volume of 1,500,446. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The business has a 50-day simple moving average of $26.38 and a 200-day simple moving average of $26.18. 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 stock has a market capitalization of $3.67 billion, a P/E ratio of -22.99 and a beta of 0.49.

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 the consensus estimate 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, 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. Shareholders of record on Friday, March 7th were issued a $0.29 dividend. This is an increase 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 dividend on an annualized basis and a yield of 4.31%. 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.