Nuveen Asset Management LLC Decreases Stock Position in Perrigo Company plc (NYSE:PRGO)

Nuveen Asset Management LLC lessened its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 59.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,651 shares of the company's stock after selling 292,474 shares during the period. Nuveen Asset Management LLC owned approximately 0.14% of Perrigo worth $5,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in Perrigo by 44.8% in the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock valued at $3,160,000 after acquiring an additional 37,268 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Perrigo by 39.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 90,624 shares of the company's stock valued at $2,330,000 after acquiring an additional 25,472 shares during the last quarter. KBC Group NV grew its stake in shares of Perrigo by 2,375.8% in the fourth quarter. KBC Group NV now owns 111,832 shares of the company's stock worth $2,875,000 after acquiring an additional 107,315 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Perrigo by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock valued at $523,000 after purchasing an additional 427 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Perrigo during the fourth quarter valued at approximately $149,000. Institutional investors own 95.91% of the company's stock.

Perrigo Stock Performance

Perrigo stock traded down $0.22 during trading on Wednesday, reaching $26.31. The company had a trading volume of 111,627 shares, compared to its average volume of 1,553,791. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -22.48 and a beta of 0.45. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm's 50-day simple moving average is $26.06 and its 200 day simple moving average is $26.19. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $30.93.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.04. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business's quarterly revenue was down 3.5% on a year-over-year basis. Sell-side analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, May 30th. Perrigo's dividend payout ratio (DPR) is presently -88.55%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $33.00.

Insider Buying and Selling

In related 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 sale, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by company 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.