First Trust Advisors LP Sells 265,349 Shares of Perrigo Company plc (NYSE:PRGO)

First Trust Advisors LP lessened its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 862,852 shares of the company’s stock after selling 265,349 shares during the quarter. First Trust Advisors LP owned about 0.63% of Perrigo worth $22,184,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Headlands Technologies LLC grew its stake in Perrigo by 1,942.0% in the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company’s stock valued at $36,000 after buying an additional 1,340 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Perrigo in the fourth quarter worth $45,000. GAMMA Investing LLC grew its position in shares of Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after purchasing an additional 929 shares in the last quarter. Central Pacific Bank Trust Division raised its stake 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 valued at $51,000 after purchasing an additional 500 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Perrigo by 97.8% during the 4th 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. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Performance

NYSE PRGO opened at $25.26 on Friday. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The company has a fifty day moving average of $26.52 and a 200-day moving average of $26.05. The company has a market capitalization of $3.45 billion, a P/E ratio of -21.59 and a beta of 0.49. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data 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 firm 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%. As a group, equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a dividend of $0.29 per share. This is a boost from Perrigo’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Friday, March 7th. Perrigo’s dividend payout ratio (DPR) is presently -92.80%.

Insider Transactions at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the business’s stock in a transaction dated 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 owns 33,666 shares of the company’s stock, valued at approximately $923,795.04. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

PRGO has been the subject of a number of recent analyst reports. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler lowered 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. Finally, StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Perrigo currently has an average rating of “Hold” and a consensus 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.