Perrigo Company plc (NYSE:PRGO) Stake Reduced by First Trust Advisors LP

First Trust Advisors LP reduced its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 23.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 862,852 shares of the company's stock after selling 265,349 shares during the period. First Trust Advisors LP owned approximately 0.63% of Perrigo worth $22,184,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PRGO. Headlands Technologies LLC lifted its holdings in Perrigo by 1,942.0% in the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock valued at $36,000 after acquiring an additional 1,340 shares during the period. Versant Capital Management Inc acquired a new position in shares of Perrigo in the fourth quarter worth about $45,000. GAMMA Investing LLC boosted its stake in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after acquiring an additional 929 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Perrigo by 33.3% in 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 in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Perrigo by 97.8% in 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 during the period. Hedge funds and other institutional investors own 95.91% of the company's stock.

Perrigo Price Performance

PRGO traded down $0.45 on Thursday, reaching $25.28. 214,620 shares of the company's stock were exchanged, compared to its average volume of 1,522,063. The stock has a market cap of $3.45 billion, a PE ratio of -21.65 and a beta of 0.49. 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 twelve month low of $23.14 and a twelve month high of $33.46. The stock's fifty day moving average price is $26.55 and its 200-day moving average price is $26.07.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, beating the consensus estimate 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%. Sell-side analysts expect that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.59%. Perrigo's dividend payout ratio (DPR) is presently -92.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRGO. Argus downgraded 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 note on Wednesday, February 19th. Finally, Piper Sandler cut Perrigo from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $34.00 to $27.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Perrigo presently has an average rating of "Hold" and a consensus target price of $33.00.

Insider Buying and Selling at Perrigo

In other news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction on Monday, March 10th. The stock was 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 directly owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Perrigo 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.