Sound Income Strategies LLC Has $13.97 Million Stock Position in Perrigo Company plc (NYSE:PRGO)

Sound Income Strategies LLC boosted its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 498,076 shares of the company's stock after purchasing an additional 15,265 shares during the period. Sound Income Strategies LLC owned about 0.37% of Perrigo worth $13,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its holdings in Perrigo by 1,942.0% during the fourth quarter. Headlands Technologies LLC now owns 1,409 shares of the company's stock worth $36,000 after acquiring an additional 1,340 shares in the last quarter. Parallel Advisors LLC increased its holdings in Perrigo by 176.9% during the first quarter. Parallel Advisors LLC now owns 1,714 shares of the company's stock worth $48,000 after buying an additional 1,095 shares during the last quarter. Fifth Third Bancorp lifted its stake in Perrigo by 62.0% in the first quarter. Fifth Third Bancorp now owns 2,218 shares of the company's stock valued at $62,000 after acquiring an additional 849 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of Perrigo by 50.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 3,000 shares of the company's stock valued at $84,000 after acquiring an additional 1,000 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Perrigo by 91.9% during the 1st quarter. GAMMA Investing LLC now owns 3,685 shares of the company's stock worth $103,000 after purchasing an additional 1,765 shares during the last quarter. 95.91% of the stock is currently owned by institutional investors and hedge funds.

Perrigo Stock Performance

Shares of NYSE:PRGO traded up $0.07 during trading on Wednesday, reaching $26.34. 904,526 shares of the stock were exchanged, compared to its average volume of 1,475,849. Perrigo Company plc has a 12 month low of $23.14 and a 12 month high of $30.93. The stock has a 50-day moving average price of $26.08 and a 200-day moving average price of $26.10. The company has a current ratio of 2.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The firm has a market cap of $3.62 billion, a PE ratio of -20.10 and a beta of 0.46.

Perrigo (NYSE:PRGO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.04. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Research analysts expect that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Friday, May 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 4.40%. Perrigo's dividend payout ratio is currently -88.55%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.