Sound Income Strategies LLC Increases Holdings in Perrigo Company plc (NYSE:PRGO)

Sound Income Strategies LLC raised its stake in Perrigo Company plc (NYSE:PRGO) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 482,811 shares of the company’s stock after purchasing an additional 107,427 shares during the quarter. Sound Income Strategies LLC owned about 0.35% of Perrigo worth $12,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PRGO. Janney Montgomery Scott LLC boosted its position in Perrigo by 39.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 90,624 shares of the company’s stock valued at $2,330,000 after buying an additional 25,472 shares during the last quarter. SG Americas Securities LLC purchased a new position in Perrigo in the fourth quarter valued at about $691,000. Nisa Investment Advisors LLC grew its stake in Perrigo by 10.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 304,948 shares of the company’s stock valued at $7,840,000 after purchasing an additional 28,843 shares in the last quarter. O Keefe Stevens Advisory Inc. increased its holdings in Perrigo by 8.6% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 198,129 shares of the company’s stock worth $5,094,000 after purchasing an additional 15,613 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Perrigo by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 54,363 shares of the company’s stock valued at $1,398,000 after purchasing an additional 1,342 shares in the last quarter. Institutional investors and hedge funds own 95.91% of the company’s stock.

Perrigo Stock Performance

PRGO stock opened at $24.73 on Friday. The firm has a fifty day moving average price of $26.30 and a two-hundred day moving average price of $26.68. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. Perrigo Company plc has a 1-year low of $23.14 and a 1-year high of $33.67.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were issued a $0.276 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler lowered shares of Perrigo from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $42.00 target price on shares of Perrigo in a research report on Monday, September 30th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Finally, Argus downgraded 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 two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.00.

Insider Activity at Perrigo

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the completion of the transaction, the director now owns 5,409 shares in the company, valued at approximately $152,912.43. This represents a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.