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

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Friday, November 1st, RTT News reports. Investors 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 annualized dividend and a yield of 4.23%.

Perrigo has raised its dividend 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% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.8 %

PRGO opened at $26.09 on Friday. Perrigo has a 12 month low of $23.89 and a 12 month high of $34.60. The stock has a market cap of $3.56 billion, a P/E ratio of -28.36 and a beta of 0.48. The stock’s 50 day moving average price is $26.42 and its 200 day moving average price is $27.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.99 and a quick ratio of 1.24.

Perrigo (NYSE:PRGO) last posted its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. Perrigo’s quarterly revenue was down 10.7% compared to the same quarter last year. As a group, research analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the transaction, the director now owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Svend Andersen sold 28,300 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the completion of the sale, the executive vice president now owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,254 shares of company stock valued at $1,411,969 in the last 90 days. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PRGO shares. StockNews.com downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Piper Sandler reduced their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.