Legacy Wealth Asset Management LLC Lowers Stock Holdings in Perrigo Company plc (NYSE:PRGO)

Legacy Wealth Asset Management LLC lowered its holdings in Perrigo Company plc (NYSE:PRGO) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,324 shares of the company’s stock after selling 1,195 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Perrigo were worth $445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of Perrigo in the fourth quarter valued at $45,000. GAMMA Investing LLC boosted its holdings in Perrigo by 93.7% in the fourth quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $49,000 after acquiring an additional 929 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings 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 acquiring an additional 500 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Perrigo in the third quarter valued at $56,000. Finally, KBC Group NV boosted its holdings in Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Trading Up 0.0 %

Shares of PRGO opened at $23.86 on Friday. The stock’s 50-day moving average is $26.49 and its two-hundred day moving average is $26.73. The stock has a market cap of $3.26 billion, a PE ratio of -20.40 and a beta of 0.53. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $33.96. 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 (NYSE:PRGO) last announced its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast 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 was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were given a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, November 29th. Perrigo’s payout ratio is -94.02%.

Wall Street Analyst Weigh In

PRGO has been the topic of a number of research analyst reports. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Piper Sandler cut Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $27.00 in a report on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Transactions at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the sale, the director now directly owns 5,409 shares of the company’s stock, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.