Perrigo Company plc (NYSE:PRGO) Stock Holdings Trimmed by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC reduced its position in Perrigo Company plc (NYSE:PRGO) by 6.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,324 shares of the company’s stock after selling 1,195 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Perrigo were worth $445,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its holdings in shares of Perrigo by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 54,363 shares of the company’s stock valued at $1,398,000 after purchasing an additional 1,342 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew 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 grew its holdings in shares of Perrigo by 33.3% during 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 last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 929 shares during the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Perrigo during the fourth quarter valued at approximately $45,000. 95.91% of the stock is owned by institutional investors.

Perrigo Stock Performance

PRGO opened at $23.86 on Friday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -20.40 and a beta of 0.53. 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 1-year low of $23.14 and a 1-year high of $33.96. The business has a 50 day moving average price of $26.49 and a two-hundred day moving average price of $26.73.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were given a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.63%. Perrigo’s dividend payout ratio (DPR) is presently -94.02%.

Insider Activity

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRGO. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $27.00 in a research report on Monday, January 6th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Finally, StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Perrigo has an average rating of “Hold” and an average price target of $35.00.

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.