Alliancebernstein L.P. Sells 34,967 Shares of Perrigo Company plc (NYSE:PRGO)

Alliancebernstein L.P. decreased its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 11.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 269,503 shares of the company's stock after selling 34,967 shares during the period. Alliancebernstein L.P. owned 0.20% of Perrigo worth $6,929,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PRGO. Versant Capital Management Inc bought a new stake in Perrigo during the fourth quarter valued at $45,000. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 929 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 worth $51,000 after purchasing an additional 500 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Perrigo in the fourth quarter valued at approximately $149,000. Institutional investors own 95.91% of the company's stock.

Perrigo Trading Up 0.4 %

PRGO stock traded up $0.09 on Thursday, reaching $25.23. The company's stock had a trading volume of 141,080 shares, compared to its average volume of 1,517,254. 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 Company plc has a 12-month low of $23.14 and a 12-month high of $33.46. The firm has a market cap of $3.44 billion, a PE ratio of -21.62 and a beta of 0.49. The business has a fifty day simple moving average of $26.45 and a two-hundred day simple moving average of $26.05.

Perrigo (NYSE:PRGO - Get Free Report) last announced its quarterly earnings results 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. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. As a group, research analysts forecast that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Perrigo's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 4.60%. Perrigo's payout ratio is currently -92.80%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the firm's 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by 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.