Corebridge Financial Inc. Has $3.97 Million Position in Perrigo Company plc (NYSE:PRGO)

Corebridge Financial Inc. decreased its position in shares of Perrigo Company plc (NYSE:PRGO) by 4.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 154,366 shares of the company’s stock after selling 6,944 shares during the quarter. Corebridge Financial Inc.’s holdings in Perrigo were worth $3,969,000 at the end of the most recent quarter.

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

Perrigo Trading Up 1.1 %

Shares of NYSE PRGO opened at $28.06 on Monday. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -23.98 and a beta of 0.48. 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 company’s fifty day moving average is $26.11 and its 200-day moving average is $26.15.

Perrigo (NYSE:PRGO) last posted its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share for the quarter, topping 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 firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Equities research analysts predict that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.13%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, March 7th. Perrigo’s dividend payout ratio is presently -92.80%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRGO shares. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $27.00 in a report on Monday, January 6th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Argus lowered Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Perrigo presently has a consensus rating of “Hold” and an average price target of $33.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the 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 transaction, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Perrigo Company 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.