Sound Income Strategies LLC Takes $9.85 Million Position in Perrigo Company plc (NYSE:PRGO)

Sound Income Strategies LLC acquired a new position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 375,384 shares of the company's stock, valued at approximately $9,846,000. Sound Income Strategies LLC owned 0.28% of Perrigo at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PRGO. Vanguard Group Inc. lifted its position in Perrigo by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,994,309 shares of the company's stock worth $482,517,000 after buying an additional 91,322 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Perrigo by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company's stock worth $183,935,000 after buying an additional 249,640 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Perrigo by 11.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock worth $99,701,000 after purchasing an additional 391,646 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Perrigo by 0.9% in the 2nd quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company's stock worth $89,916,000 after purchasing an additional 30,150 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in Perrigo by 10.1% in the 1st quarter. DAVENPORT & Co LLC now owns 3,449,352 shares of the company's stock valued at $111,035,000 after acquiring an additional 317,552 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Price Performance

NYSE PRGO traded up $0.12 during trading on Friday, reaching $24.37. 1,044,212 shares of the company traded hands, compared to its average volume of 1,609,523. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99. The stock's 50 day moving average price is $27.15 and its two-hundred day moving average price is $28.23. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -348.14 and a beta of 0.48. Perrigo Company plc has a 1-year low of $23.89 and a 1-year high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.46 by $0.07. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.63 EPS. Perrigo's revenue was down 10.7% compared to the same quarter last year. As a group, analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were paid a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, August 30th. Perrigo's payout ratio is presently -1,571.43%.

Insider Buying and Selling

In related news, Director Katherine C. Doyle sold 8,954 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the transaction, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Katherine C. Doyle sold 8,954 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company's stock, valued at approximately $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,254 shares of company stock valued at $1,411,969. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com cut Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Jefferies Financial Group reissued a "hold" rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. Canaccord Genuity Group restated a "buy" rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Finally, Piper Sandler dropped their price objective on Perrigo from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.