JPMorgan Chase & Co. Sells 265,849 Shares of Perrigo Company plc (NYSE:PRGO)

JPMorgan Chase & Co. cut its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 49.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,151 shares of the company's stock after selling 265,849 shares during the quarter. JPMorgan Chase & Co. owned about 0.20% of Perrigo worth $7,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in Perrigo by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 20,337 shares of the company's stock worth $523,000 after acquiring an additional 427 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Perrigo by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,617 shares of the company's stock worth $567,000 after purchasing an additional 436 shares during the period. Cedar Wealth Management LLC increased its holdings in Perrigo by 2.1% in the fourth quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company's stock worth $565,000 after purchasing an additional 450 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in Perrigo by 33.3% in the fourth quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after buying an additional 500 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Perrigo by 0.8% during the 4th quarter. Amalgamated Bank now owns 64,086 shares of the company's stock worth $1,648,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Insider Transactions 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 transaction of $214,032.00. Following the completion of the sale, the executive vice president now owns 33,666 shares of the company's stock, valued at $923,795.04. The trade was a 18.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Perrigo Stock Performance

Perrigo stock traded up $0.45 during trading on Tuesday, hitting $24.81. The stock had a trading volume of 900,084 shares, compared to its average volume of 1,522,399. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. The stock's 50 day moving average is $26.49 and its two-hundred day moving average is $26.05. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -21.20 and a beta of 0.49.

Perrigo (NYSE:PRGO - Get Free Report) last announced 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. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. As a group, analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date 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%.

Analyst Ratings Changes

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

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.