Perrigo Company plc (NYSE:PRGO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,872,960 shares of the company's stock after selling 20,228 shares during the quarter. Vanguard Group Inc. owned about 10.90% of Perrigo worth $382,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRGO. Versant Capital Management Inc bought a new stake in Perrigo during the 4th quarter valued at about $45,000. GAMMA Investing LLC raised its stake in shares of Perrigo by 93.7% during the fourth 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 boosted its holdings 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 valued at $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC grew its stake in Perrigo by 97.8% in the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock worth $108,000 after purchasing an additional 2,084 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Perrigo during the 4th quarter worth $149,000. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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Perrigo Price Performance

PRGO stock traded down $0.29 during mid-day trading on Monday, reaching $26.02. 2,804,978 shares of the company's stock were exchanged, compared to its average volume of 1,513,099. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The stock's 50 day moving average is $26.43 and its 200 day moving average is $26.13. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -22.24 and a beta of 0.49.

Perrigo (NYSE:PRGO - Get Free Report) last issued 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. On average, research analysts expect 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 was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a $0.29 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.46%. This is a positive change from Perrigo's previous quarterly dividend of $0.28. Perrigo's dividend payout ratio is currently -92.80%.

Insider Buying and Selling

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 transaction 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 approximately $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 accessible through 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.