Wells Fargo & Company MN Sells 99,617 Shares of Perrigo Company plc (NYSE:PRGO)

Wells Fargo & Company MN decreased its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 62.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,270 shares of the company's stock after selling 99,617 shares during the quarter. Wells Fargo & Company MN's holdings in Perrigo were worth $1,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC lifted its holdings in shares of Perrigo by 1,942.0% during the 4th quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after acquiring an additional 1,340 shares during the period. Versant Capital Management Inc bought a new position in shares of Perrigo in the fourth quarter valued at about $45,000. GAMMA Investing LLC lifted its position in shares of Perrigo by 93.7% during the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock worth $49,000 after purchasing an additional 929 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in 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 buying an additional 500 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Perrigo by 97.8% during 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 last quarter. Institutional investors and hedge funds own 95.91% of the company's stock.

Wall Street Analyst Weigh In

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

Perrigo Stock Performance

Perrigo stock traded up $0.31 during midday trading on Friday, reaching $25.58. 111,241 shares of the company's stock were exchanged, compared to its average volume of 1,515,382. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock's 50-day simple moving average is $26.55 and its 200 day simple moving average is $26.08. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -21.82 and a beta of 0.49. Perrigo Company plc has a 52 week low of $23.14 and a 52 week high of $33.46.

Perrigo (NYSE:PRGO - Get Free Report) last released 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 positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. On average, analysts expect that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.54%. Perrigo's payout ratio is -92.80%.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of Perrigo stock in a transaction 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 transaction, the executive vice president now directly owns 33,666 shares of the company's stock, valued at $923,795.04. The trade was a 18.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.