Perrigo Company plc (NYSE:PRGO) Plans $0.28 Quarterly Dividend

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Friday, November 1st, RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.276 per share on Tuesday, December 17th. This represents a $1.10 dividend on an annualized basis and a yield of 4.23%.

Perrigo has increased its dividend payment by an average of 6.7% per year over the last three years and has increased its dividend annually for the last 22 consecutive years. Perrigo has a payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Perrigo to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 35.3%.

Perrigo Price Performance

PRGO stock opened at $26.09 on Friday. The stock has a 50-day moving average price of $26.42 and a two-hundred day moving average price of $27.63. The stock has a market cap of $3.56 billion, a PE ratio of -28.36 and a beta of 0.48. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. Perrigo has a 1 year low of $23.89 and a 1 year high of $34.60.

Perrigo (NYSE:PRGO) last released its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.07. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The company’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Equities analysts forecast that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Activity at Perrigo

In related news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now directly owns 73,553 shares in the company, valued at approximately $2,041,095.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Perrigo news, EVP Ronald Craig Janish sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.40, for a total transaction of $382,200.00. Following the completion of the sale, the executive vice president now directly owns 20,553 shares in the company, valued at $604,258.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,254 shares of company stock worth $1,411,969. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PRGO shares. Piper Sandler decreased their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. StockNews.com cut Perrigo from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perrigo presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Company 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.