Corient Private Wealth LLC Reduces Holdings in Perrigo Company plc (NYSE:PRGO)

Corient Private Wealth LLC lowered its position in Perrigo Company plc (NYSE:PRGO) by 73.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 10,463 shares of the company’s stock after selling 28,366 shares during the period. Corient Private Wealth LLC’s holdings in Perrigo were worth $269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRGO. Citigroup Inc. lifted its stake in shares of Perrigo by 94.1% in the third quarter. Citigroup Inc. now owns 151,520 shares of the company’s stock worth $3,974,000 after buying an additional 73,457 shares in the last quarter. Bank of Montreal Can lifted its stake in Perrigo by 347.0% in the 3rd quarter. Bank of Montreal Can now owns 145,474 shares of the company’s stock worth $3,731,000 after purchasing an additional 112,929 shares in the last quarter. FMR LLC boosted its holdings in shares of Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company’s stock worth $48,271,000 after purchasing an additional 1,837,538 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Perrigo by 43.8% in the third quarter. BNP Paribas Financial Markets now owns 114,937 shares of the company’s stock valued at $3,015,000 after purchasing an additional 35,031 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Perrigo by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 419,137 shares of the company’s stock valued at $10,994,000 after purchasing an additional 5,141 shares during the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Price Performance

PRGO stock opened at $28.07 on Tuesday. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The business has a fifty day moving average of $26.19 and a two-hundred day moving average of $26.16. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -23.99 and a beta of 0.48. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates 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, research analysts anticipate that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is -92.80%.

Wall Street Analysts Forecast Growth

PRGO has been the topic of a number of recent research reports. Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler downgraded shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Perrigo has an average rating of “Hold” and a consensus target price of $33.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo 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 transaction, the executive vice president now directly owns 33,666 shares of the company’s stock, valued at $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 available through this link. 0.70% of the stock is owned by corporate insiders.

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.