Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Thursday, February 15th, RTT News reports. Shareholders of record on Friday, March 2nd will be given a dividend of 0.19 per share on Tuesday, March 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Perrigo’s previous quarterly dividend of $0.16.

Perrigo has increased its dividend by an average of 15.1% annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Perrigo has a dividend payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Perrigo to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 12.0%.

Perrigo (NYSE PRGO) traded up $0.88 during trading on Thursday, hitting $87.54. 72,440 shares of the company’s stock were exchanged, compared to its average volume of 941,186. Perrigo has a 12-month low of $63.68 and a 12-month high of $95.93. The company has a market capitalization of $12,085.54, a price-to-earnings ratio of -9.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24.

A number of research analysts have weighed in on the stock. Cantor Fitzgerald set a $107.00 price objective on shares of Perrigo and gave the company a “buy” rating in a research note on Friday, February 9th. Berenberg Bank assumed coverage on shares of Perrigo in a research note on Thursday, February 1st. They issued a “buy” rating and a $117.00 price objective on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $81.00 price objective on shares of Perrigo in a research note on Friday, November 10th. Leerink Swann started coverage on shares of Perrigo in a research note on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price objective on the stock. Finally, Canaccord Genuity reissued a “buy” rating and set a $100.00 price target on shares of Perrigo in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Perrigo has an average rating of “Hold” and an average price target of $93.47.

In related news, VP Todd W. Kingma sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the completion of the sale, the vice president now owns 19,565 shares in the company, valued at $1,731,893.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Wesolowski acquired 700 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $85.80 per share, with a total value of $60,060.00. The disclosure for this purchase can be found here. Insiders have sold 3,838 shares of company stock worth $336,784 over the last three months. 6.90% of the stock is owned by insiders.

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About Perrigo

Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.

Dividend History for Perrigo (NYSE:PRGO)

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