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

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.276 per share on Tuesday, June 18th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.35%.

Perrigo has increased its dividend by an average of 6.7% per year over the last three years and has increased its dividend every year for the last 22 years. Perrigo has a dividend payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Perrigo to earn $3.22 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 34.2%.

Perrigo Trading Up 0.9 %

Shares of PRGO traded up $0.28 during trading hours on Wednesday, reaching $32.94. 941,965 shares of the company traded hands, compared to its average volume of 1,778,586. The company’s fifty day moving average price is $30.54 and its two-hundred day moving average price is $30.82. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of -326.60 and a beta of 0.64. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. Perrigo has a 12 month low of $25.77 and a 12 month high of $40.28.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $0.75 EPS. Perrigo’s revenue was up .1% on a year-over-year basis. Equities research analysts predict that Perrigo will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at Perrigo

In other Perrigo news, EVP Alison Ives bought 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the transaction, the executive vice president now owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Robert Willis purchased 6,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the transaction, the executive vice president now directly owns 25,105 shares in the company, valued at approximately $649,466.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alison Ives purchased 2,490 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of $27.26 per share, with a total value of $67,877.40. Following the completion of the transaction, the executive vice president now owns 16,122 shares of the company’s stock, valued at $439,485.72. The disclosure for this purchase can be found here. Insiders purchased 17,990 shares of company stock worth $475,227 over the last three months. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRGO shares. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. decreased their target price on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Piper Sandler lifted their target price on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Friday, April 12th.

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.