Truist Financial Corp Reduces Holdings in Perrigo Company plc (NYSE:PRGO)

Truist Financial Corp reduced its stake in Perrigo Company plc (NYSE:PRGO) by 14.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190,286 shares of the company’s stock after selling 32,843 shares during the quarter. Truist Financial Corp’s holdings in Perrigo were worth $6,123,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Perrigo by 4.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,627 shares of the company’s stock valued at $310,000 after buying an additional 380 shares during the last quarter. Blue Trust Inc. lifted its position in Perrigo by 34.5% during the 4th quarter. Blue Trust Inc. now owns 1,556 shares of the company’s stock worth $50,000 after acquiring an additional 399 shares during the period. Xponance Inc. grew its stake in Perrigo by 2.1% during the 4th quarter. Xponance Inc. now owns 20,153 shares of the company’s stock valued at $649,000 after purchasing an additional 410 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Perrigo by 25.6% in the fourth quarter. Signaturefd LLC now owns 2,240 shares of the company’s stock valued at $72,000 after purchasing an additional 457 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Perrigo by 39.5% in the third quarter. Fifth Third Bancorp now owns 1,714 shares of the company’s stock worth $55,000 after purchasing an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRGO. Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a report on Friday, April 12th. Piper Sandler raised their target price on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. cut their price target on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Finally, StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd.

Insider Activity

In related news, EVP Robert Willis purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was bought at an average price of $25.87 per share, with a total value of $155,220.00. Following the acquisition, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Robert Willis acquired 6,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the purchase, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Lockwood-Taylor bought 9,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $26.54 per share, for a total transaction of $252,130.00. Following the transaction, the chief executive officer now owns 20,500 shares of the company’s stock, valued at $544,070. The disclosure for this purchase can be found here. Insiders have acquired 17,990 shares of company stock worth $475,227 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

Perrigo Price Performance

PRGO opened at $32.79 on Friday. The firm has a fifty day moving average price of $30.60 and a 200 day moving average price of $30.89. Perrigo Company plc has a 1 year low of $25.77 and a 1 year high of $40.28. The company has a current ratio of 1.79, a quick ratio of 1.07 and a debt-to-equity ratio of 0.76.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data 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 negative net margin of 0.27% and a positive return on equity of 7.34%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. On average, research analysts anticipate that Perrigo Company plc will post 2.55 earnings per share for the current year.

Perrigo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, May 31st. Perrigo’s payout ratio is -1,100.00%.

About Perrigo

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.