Perrigo Company plc (NYSE:PRGO – Get Free Report) 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.
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.
Read Our Latest Report on Perrigo
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.
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