Truist Financial Corp Sells 32,843 Shares of Perrigo Company plc (NYSE:PRGO)

Truist Financial Corp cut its stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 190,286 shares of the company's stock after selling 32,843 shares during the period. Truist Financial Corp owned about 0.14% of Perrigo worth $6,123,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Perrigo during the 3rd quarter worth approximately $119,000. Cambridge Investment Research Advisors Inc. bought a new position in Perrigo during the 3rd quarter worth $261,000. Xponance Inc. lifted its holdings in Perrigo by 7.3% during the 3rd quarter. Xponance Inc. now owns 19,743 shares of the company's stock worth $631,000 after buying an additional 1,350 shares during the period. Pinnacle Associates Ltd. bought a new stake in shares of Perrigo in the 3rd quarter valued at about $283,000. Finally, Raymond James & Associates increased its stake in shares of Perrigo by 5.4% in the third quarter. Raymond James & Associates now owns 95,007 shares of the company's stock valued at $3,035,000 after buying an additional 4,899 shares during the period. 95.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PRGO shares. JPMorgan Chase & Co. decreased their target price on shares of Perrigo from $48.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, February 28th. Piper Sandler boosted their target price on shares of Perrigo from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, April 8th. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group restated a "buy" rating and set a $42.00 target price on shares of Perrigo in a research report on Friday, April 12th.

Perrigo Stock Down 0.8 %

Shares of PRGO stock traded down $0.27 on Friday, reaching $32.79. 981,835 shares of the company were exchanged, compared to its average volume of 1,163,526. The company has a 50-day moving average of $30.60 and a 200-day moving average of $30.89. Perrigo Company plc has a one year low of $25.77 and a one year high of $40.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -327.90 and a beta of 0.63.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. Perrigo's revenue for the quarter was up .1% on a year-over-year basis. Analysts anticipate that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.276 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.10 dividend on an annualized basis and a yield of 3.37%. Perrigo's dividend payout ratio (DPR) is currently -1,100.00%.

Insiders Place Their Bets

In related news, EVP Alison Ives acquired 2,490 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following the purchase, the executive vice president now owns 16,122 shares in the company, valued at $439,485.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Alison Ives acquired 2,490 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the purchase, the executive vice president now owns 16,122 shares in the company, valued at approximately $439,485.72. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick Lockwood-Taylor bought 9,500 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was acquired at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the purchase, the chief executive officer now directly owns 20,500 shares in the company, valued at $544,070. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 17,990 shares of company stock valued at $475,227. Corporate insiders own 0.70% of the company's stock.

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.