Sound Income Strategies LLC Purchases 107,427 Shares of Perrigo Company plc (NYSE:PRGO)

Sound Income Strategies LLC grew its position in Perrigo Company plc (NYSE:PRGO - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 482,811 shares of the company's stock after acquiring an additional 107,427 shares during the period. Sound Income Strategies LLC owned about 0.35% of Perrigo worth $12,413,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company's stock valued at $70,761,000 after buying an additional 1,878,145 shares during the last quarter. FMR LLC lifted its holdings in Perrigo by 66,795.3% during the 3rd quarter. FMR LLC now owns 1,840,289 shares of the company's stock valued at $48,271,000 after purchasing an additional 1,837,538 shares during the last quarter. AQR Capital Management LLC boosted its position in Perrigo by 675.5% during the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock worth $24,926,000 after purchasing an additional 845,470 shares during the period. Copeland Capital Management LLC increased its holdings in shares of Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock valued at $65,117,000 after purchasing an additional 465,161 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock valued at $99,701,000 after purchasing an additional 391,646 shares during the period. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRGO has been the subject of several research analyst reports. StockNews.com downgraded shares of Perrigo from a "buy" rating to a "hold" rating in a report on Saturday, January 11th. Piper Sandler downgraded Perrigo from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Finally, Argus downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Perrigo currently has an average rating of "Hold" and an average price target of $35.00.

Perrigo Price Performance

PRGO traded down $0.08 on Friday, hitting $24.67. 1,066,716 shares of the stock were exchanged, compared to its average volume of 1,377,645. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -21.08 and a beta of 0.53. 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 Company plc has a 12 month low of $23.14 and a 12 month high of $33.51. The business has a 50-day moving average of $26.30 and a two-hundred day moving average of $26.68.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $0.64 EPS. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts forecast 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 dividend of $0.276 per share. This represents a $1.10 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Friday, November 29th. Perrigo's dividend payout ratio (DPR) is presently -94.02%.

Insider Buying and Selling

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the sale, the director now directly owns 5,409 shares in the company, valued at $152,912.43. This trade represents a 76.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.