Perrigo Company plc (PRGO) to Issue Quarterly Dividend of $0.28 on December 17th

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

Perrigo has increased its dividend payment by an average of 6.7% annually over the last three years and has raised 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. Equities research 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 Trading Up 1.8 %

Shares of Perrigo stock 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 company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $26.42 and its 200-day moving average is $27.63.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data 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. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was down 10.7% compared to the same quarter last year. Equities research analysts predict that Perrigo will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’s 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 directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $29.40, for a total transaction of $382,200.00. Following the sale, the executive vice president now directly owns 20,553 shares of the company’s stock, valued at approximately $604,258.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now directly owns 6,009 shares in the company, valued at approximately $164,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. 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 ninety days. 0.70% of the stock is currently owned by corporate insiders.

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.