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

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Wednesday, May 1st, RTT News reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.276 per share on Tuesday, June 18th. This represents a $1.10 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, May 31st.

Perrigo has raised its dividend payment by an average of 6.7% per year over the last three years and has raised its dividend every year for the last 22 years. Perrigo has a dividend payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Perrigo to earn $3.22 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 34.2%.

Perrigo Price Performance

Shares of NYSE PRGO opened at $32.90 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. Perrigo has a 52 week low of $25.77 and a 52 week high of $40.28. The firm’s fifty day moving average is $30.54 and its 200 day moving average is $30.85.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. As a group, analysts predict that Perrigo will post 2.55 EPS for the current fiscal year.

Insider Activity at Perrigo

In other news, EVP Alison Ives acquired 2,490 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now directly owns 16,122 shares of the company’s stock, valued at $439,485.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Perrigo news, EVP Alison Ives bought 2,490 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the transaction, the executive vice president now owns 16,122 shares in the company, valued at $439,485.72. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Patrick Lockwood-Taylor bought 9,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $26.54 per share, with a total value of $252,130.00. Following the completion of the transaction, the chief executive officer now owns 20,500 shares of the company’s stock, valued at approximately $544,070. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 17,990 shares of company stock valued at $475,227. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRGO. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Friday, April 12th. Piper Sandler raised their price target on shares of Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd.

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.