Sound Shore Management Inc. CT Grows Position in Perrigo Company plc (NYSE:PRGO)

Sound Shore Management Inc. CT raised its holdings in shares of Perrigo Company plc (NYSE:PRGO) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,668,780 shares of the company’s stock after buying an additional 9,868 shares during the quarter. Perrigo comprises about 2.3% of Sound Shore Management Inc. CT’s portfolio, making the stock its 26th biggest holding. Sound Shore Management Inc. CT owned approximately 1.96% of Perrigo worth $68,614,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cedar Wealth Management LLC boosted its position in shares of Perrigo by 2.1% during the 4th quarter. Cedar Wealth Management LLC now owns 21,966 shares of the company’s stock valued at $565,000 after acquiring an additional 450 shares during the last quarter. LPL Financial LLC boosted its position in shares of Perrigo by 34.4% during the 4th quarter. LPL Financial LLC now owns 37,738 shares of the company’s stock valued at $970,000 after acquiring an additional 9,663 shares during the last quarter. Fox Run Management L.L.C. boosted its position in shares of Perrigo by 5.1% during the 4th quarter. Fox Run Management L.L.C. now owns 11,381 shares of the company’s stock valued at $293,000 after acquiring an additional 548 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Perrigo during the 4th quarter valued at about $710,000. Finally, Quantbot Technologies LP boosted its position in shares of Perrigo by 1,879.3% during the 4th quarter. Quantbot Technologies LP now owns 13,796 shares of the company’s stock valued at $355,000 after acquiring an additional 13,099 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Perrigo Stock Down 1.9 %

Shares of PRGO opened at $27.95 on Monday. The stock has a market capitalization of $3.81 billion, a PE ratio of -23.88 and a beta of 0.48. Perrigo Company plc has a 1 year low of $23.14 and a 1 year high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The company’s 50-day simple moving average is $25.73 and its 200-day simple moving average is $26.14.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. Analysts forecast that Perrigo Company plc will post 2.56 earnings per share for the current fiscal year.

Perrigo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Friday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio is currently -92.80%.

Insider Transactions at Perrigo

In related news, EVP Ronald Craig Janish sold 7,800 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $27.44, for a total transaction of $214,032.00. Following the sale, the executive vice president now directly owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PRGO. Argus cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Piper Sandler cut shares of 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. Finally, StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Perrigo has a consensus rating of “Hold” and a consensus target price of $33.00.

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.