Sound Shore Management Inc. CT Acquires 616,387 Shares of Perrigo Company plc (NYSE:PRGO)

Sound Shore Management Inc. CT raised its position in shares of Perrigo Company plc (NYSE:PRGO - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,285,167 shares of the company's stock after buying an additional 616,387 shares during the period. Perrigo comprises about 3.2% of Sound Shore Management Inc. CT's holdings, making the stock its 8th largest holding. Sound Shore Management Inc. CT owned about 2.41% of Perrigo worth $92,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. boosted its holdings in Perrigo by 0.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,894,739 shares of the company's stock valued at $53,128,000 after purchasing an additional 11,256 shares during the period. Legato Capital Management LLC boosted its holdings in Perrigo by 219.7% in the first quarter. Legato Capital Management LLC now owns 33,174 shares of the company's stock valued at $930,000 after purchasing an additional 22,798 shares during the period. Readystate Asset Management LP boosted its holdings in Perrigo by 10.3% in the first quarter. Readystate Asset Management LP now owns 37,485 shares of the company's stock valued at $1,051,000 after purchasing an additional 3,485 shares during the period. Bailard Inc. purchased a new position in Perrigo in the first quarter valued at $202,000. Finally, Victory Capital Management Inc. boosted its holdings in Perrigo by 3.1% in the first quarter. Victory Capital Management Inc. now owns 1,457,465 shares of the company's stock valued at $40,867,000 after purchasing an additional 44,127 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Perrigo from a "buy" rating to a "hold" rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Perrigo presently has an average rating of "Hold" and a consensus target price of $33.00.

Perrigo Trading Down 1.3%

NYSE:PRGO traded down $0.38 on Monday, reaching $28.05. The stock had a trading volume of 267,390 shares, compared to its average volume of 1,403,966. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -21.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.28. The firm's fifty day moving average is $26.95 and its two-hundred day moving average is $26.22. Perrigo Company plc has a 12-month low of $23.14 and a 12-month high of $30.93.

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

Perrigo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, May 30th. Perrigo's payout ratio is currently -88.55%.

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.