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

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Shareholders of record on Friday, August 30th will be given a dividend of 0.276 per share on Tuesday, September 17th. This represents a $1.10 annualized dividend and a yield of 3.92%.

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 33.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 0.3 %

Shares of NYSE PRGO opened at $28.18 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average is $27.00 and its 200 day moving average is $29.71. The company has a market cap of $3.84 billion, a price-to-earnings ratio of -402.57 and a beta of 0.51. Perrigo has a 52 week low of $24.82 and a 52 week high of $40.28.

Perrigo (NYSE:PRGO) last posted its earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts expect that Perrigo will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th.

Insider Activity at Perrigo

In other Perrigo news, EVP Svend Andersen purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $27.90 per share, with a total value of $27,900.00. Following the completion of the purchase, the executive vice president now directly owns 101,853 shares in the company, valued at $2,841,698.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.