Perrigo Company plc (NYSE:PRGO) Plans $0.29 Quarterly Dividend

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.29 per share on Tuesday, March 24th. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Monday, March 2nd.

Perrigo has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 23 consecutive years. Perrigo has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Perrigo to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 37.9%.

Perrigo Trading Up 2.2%

NYSE:PRGO opened at $14.90 on Friday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -39.20, a PEG ratio of 1.31 and a beta of 0.39. The company has a quick ratio of 1.44, a current ratio of 2.51 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average price is $14.26 and its 200-day moving average price is $17.90. Perrigo has a 52 week low of $12.17 and a 52 week high of $30.93.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Perrigo by 116.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,888 shares of the company’s stock valued at $26,000 after acquiring an additional 1,014 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Perrigo by 439.1% during the first quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock worth $27,000 after purchasing an additional 786 shares in the last quarter. UMB Bank n.a. raised its stake in Perrigo by 161.5% during the 4th quarter. UMB Bank n.a. now owns 1,964 shares of the company’s stock valued at $27,000 after purchasing an additional 1,213 shares during the period. Huntington National Bank lifted its holdings in Perrigo by 237.8% in the 2nd quarter. Huntington National Bank now owns 1,054 shares of the company’s stock worth $28,000 after purchasing an additional 742 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Perrigo in the 4th quarter worth approximately $28,000. Institutional investors own 95.91% of the company’s stock.

About Perrigo

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.