Perrigo Company plc (NYSE:PRGO) Shares Bought by Citigroup Inc.

Citigroup Inc. increased its holdings in Perrigo Company plc (NYSE:PRGO - Free Report) by 94.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,520 shares of the company's stock after buying an additional 73,457 shares during the quarter. Citigroup Inc. owned 0.11% of Perrigo worth $3,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRGO. Diamond Hill Capital Management Inc. increased its position in Perrigo by 83.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,940,067 shares of the company's stock worth $49,821,000 after purchasing an additional 881,191 shares during the last quarter. AQR Capital Management LLC increased its position in Perrigo by 675.5% in the second quarter. AQR Capital Management LLC now owns 970,637 shares of the company's stock worth $24,926,000 after purchasing an additional 845,470 shares during the last quarter. Copeland Capital Management LLC increased its position in Perrigo by 23.1% in the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company's stock worth $65,117,000 after purchasing an additional 465,161 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in Perrigo by 11.2% in the second quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company's stock worth $99,701,000 after purchasing an additional 391,646 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Perrigo by 58.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,039,702 shares of the company's stock worth $27,271,000 after purchasing an additional 383,728 shares during the last quarter. Hedge funds and other institutional investors own 95.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PRGO shares. Jefferies Financial Group reissued a "hold" rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Canaccord Genuity Group reissued a "buy" rating and set a $42.00 target price on shares of Perrigo in a research note on Monday, September 30th. Finally, StockNews.com raised shares of Perrigo from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $37.00.

Perrigo Price Performance

Shares of NYSE:PRGO traded up $0.49 during midday trading on Wednesday, reaching $28.91. 1,121,496 shares of the company's stock traded hands, compared to its average volume of 1,614,536. Perrigo Company plc has a 1 year low of $23.89 and a 1 year high of $34.60. The company has a market cap of $3.94 billion, a P/E ratio of -24.29 and a beta of 0.52. 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 has a fifty day simple moving average of $26.12 and a two-hundred day simple moving average of $26.99.

Perrigo (NYSE:PRGO - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.81. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS. Equities analysts predict that Perrigo Company plc will post 2.56 EPS for the current fiscal year.

Perrigo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Friday, November 29th. Perrigo's dividend payout ratio (DPR) is -94.02%.

Insider Activity at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the sale, the director now owns 6,009 shares of the company's stock, valued at approximately $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

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.