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

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Friday, November 1st, RTT News reports. Shareholders 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 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 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. 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 traded up $0.46 on Friday, reaching $26.09. The company had a trading volume of 1,509,259 shares, compared to its average volume of 1,610,574. The firm’s 50-day moving average price is $26.48 and its two-hundred day moving average price is $27.66. Perrigo has a 1 year low of $23.89 and a 1 year high of $34.60. 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 released its quarterly earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.63 EPS. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, research analysts anticipate that Perrigo will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PRGO shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. Jefferies Financial Group reaffirmed a “hold” rating and set 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, Piper Sandler decreased their target price on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling at Perrigo

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

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.