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

Perrigo Company plc (NYSE:PRGO) declared 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 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, November 29th.

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 payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Perrigo to earn $3.08 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 35.7%.

Perrigo Price Performance

PRGO opened at $28.37 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. Perrigo has a 52-week low of $23.89 and a 52-week high of $34.60. The business’s fifty day moving average is $25.99 and its 200-day moving average is $27.06.

Perrigo (NYSE:PRGO) last released its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Perrigo will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total transaction 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 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PRGO shares. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.