Perrigo Company plc (NYSE:PRGO) Position Boosted by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its holdings in Perrigo Company plc (NYSE:PRGO) by 28.6% during the 4th quarter, Holdings Channel reports. The fund owned 482,811 shares of the company’s stock after acquiring an additional 107,427 shares during the quarter. Sound Income Strategies LLC’s holdings in Perrigo were worth $12,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PRGO. Versant Capital Management Inc acquired a new position in shares of Perrigo during the fourth quarter valued at $45,000. GAMMA Investing LLC increased its stake in 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 buying an additional 929 shares during the period. Central Pacific Bank Trust Division increased its stake in Perrigo by 33.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 500 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Perrigo during the 3rd quarter worth about $56,000. Finally, KBC Group NV lifted its stake in shares of Perrigo by 25.1% in the 3rd quarter. KBC Group NV now owns 4,517 shares of the company’s stock worth $118,000 after acquiring an additional 905 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey B. Kindler sold 17,598 shares of the stock in a transaction 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 transaction, the director now owns 5,409 shares in the company, valued at $152,912.43. This represents a 76.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRGO. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Argus cut Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, StockNews.com lowered Perrigo from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Perrigo has an average rating of “Hold” and an average price target of $35.00.

Perrigo Stock Performance

Shares of NYSE:PRGO opened at $24.73 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $26.30 and a 200-day moving average of $26.68. Perrigo Company plc has a one year low of $23.14 and a one year high of $33.67.

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

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a $0.276 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.46%. Perrigo’s dividend payout ratio is -94.02%.

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.