Sound Income Strategies LLC Grows Stake in Perrigo Company plc $PRGO

Sound Income Strategies LLC raised its stake in shares of Perrigo Company plc (NYSE:PRGO) by 3.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,615,467 shares of the company’s stock after buying an additional 60,838 shares during the period. Perrigo comprises approximately 0.5% of Sound Income Strategies LLC’s holdings, making the stock its 22nd largest position. Sound Income Strategies LLC’s holdings in Perrigo were worth $23,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRGO. KBC Group NV lifted its position in shares of Perrigo by 61.3% during the 1st quarter. KBC Group NV now owns 6,283 shares of the company’s stock valued at $67,000 after acquiring an additional 2,388 shares during the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Perrigo during the 2nd quarter valued at about $79,000. Allworth Financial LP lifted its stake in shares of Perrigo by 489.1% in the 2nd quarter. Allworth Financial LP now owns 9,390 shares of the company’s stock valued at $98,000 after purchasing an additional 7,796 shares during the last quarter. Whitebox Advisors LLC bought a new stake in Perrigo during the first quarter worth approximately $111,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Perrigo in the second quarter worth about $126,000. 95.91% of the stock is currently owned by institutional investors.

Perrigo Stock Up 3.9%

Shares of NYSE:PRGO traded up $0.56 during midday trading on Friday, reaching $15.06. 4,357,331 shares of the company were exchanged, compared to its average volume of 3,094,088. The firm has a market cap of $2.09 billion, a PE ratio of -1.20, a P/E/G ratio of 1.67 and a beta of 0.69. The stock has a fifty day simple moving average of $13.78 and a two-hundred day simple moving average of $11.83. Perrigo Company plc has a fifty-two week low of $9.23 and a fifty-two week high of $22.02. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.31.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Perrigo had a positive return on equity of 11.25% and a negative net margin of 41.85%.Perrigo’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Perrigo has set its FY 2026 guidance at 2.250-2.550 EPS. As a group, sell-side analysts forecast that Perrigo Company plc will post 2.18 earnings per share for the current year.

Perrigo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Friday, August 28th. Perrigo’s dividend payout ratio is currently -9.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRGO. Wall Street Zen downgraded Perrigo from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 27th. Weiss Ratings raised Perrigo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.33.

About Perrigo

Perrigo Company plc (NYSE: PRGO) is a global consumer self-care company that develops, manufactures and sells over-the-counter (OTC) health and wellness products. Its portfolio includes products for pain relief, allergy and cold relief, digestive health, sleep support, skin care, women’s health and oral care. Perrigo supplies both its own brands and retailer-owned store brands.

The company markets products under a range of brand names, including Compeed, ACO, ellaOne and other regional brands, while also producing private-label alternatives to widely used consumer health products.