Sound Shore Management Inc. CT Has $68.61 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

Sound Shore Management Inc. CT lifted its holdings in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,668,780 shares of the company's stock after purchasing an additional 9,868 shares during the period. Perrigo accounts for about 2.3% of Sound Shore Management Inc. CT's portfolio, making the stock its 26th largest position. Sound Shore Management Inc. CT owned 1.96% of Perrigo worth $68,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRGO. Versant Capital Management Inc acquired a new stake in shares of Perrigo during the 4th quarter worth approximately $45,000. GAMMA Investing LLC raised its position in shares of Perrigo by 93.7% during the 4th quarter. GAMMA Investing LLC now owns 1,920 shares of the company's stock valued at $49,000 after acquiring an additional 929 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Perrigo by 33.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company's stock valued at $51,000 after purchasing an additional 500 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Perrigo by 97.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,215 shares of the company's stock worth $108,000 after purchasing an additional 2,084 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Perrigo in the fourth quarter valued at about $149,000. 95.91% of the stock is currently owned by institutional investors and hedge funds.

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Perrigo Stock Up 1.1 %

Shares of Perrigo stock traded up $0.31 on Friday, hitting $28.06. The company had a trading volume of 1,802,593 shares, compared to its average volume of 1,498,743. Perrigo Company plc has a twelve month low of $23.14 and a twelve month high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock has a 50-day moving average of $26.11 and a 200-day moving average of $26.17. The firm has a market capitalization of $3.83 billion, a P/E ratio of -23.98 and a beta of 0.48.

Perrigo (NYSE:PRGO - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Research analysts predict that Perrigo Company plc will post 2.56 earnings per share for the current year.

Perrigo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders 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 dividend yield of 4.13%. This is an increase from Perrigo's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 7th. Perrigo's dividend payout ratio is currently -92.80%.

Insider Activity

In other news, EVP Ronald Craig Janish sold 7,800 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the completion of the sale, the executive vice president now owns 33,666 shares of the company's stock, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.