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

Perrigo Company plc (NYSE:PRGO - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.36%.

Perrigo has increased its dividend payment by an average of 6.7% annually over the last three years and has increased its dividend every year for the last 22 years. Perrigo has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of NYSE:PRGO traded up $0.24 during trading on Wednesday, hitting $32.90. 2,413,743 shares of the company were exchanged, compared to its average volume of 1,799,892. The company has a market cap of $4.46 billion, a PE ratio of -329.00 and a beta of 0.64. The stock has a 50 day moving average of $30.54 and a 200 day moving average of $30.85. Perrigo has a 52-week low of $25.77 and a 52-week high of $40.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07.

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

Insider Activity

In related news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of Perrigo stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $26.54 per share, with a total value of $252,130.00. Following the completion of the purchase, the chief executive officer now owns 20,500 shares of the company's stock, valued at $544,070. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Perrigo news, EVP Robert Willis bought 6,000 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of $25.87 per share, with a total value of $155,220.00. Following the completion of the purchase, the executive vice president now directly owns 25,105 shares of the company's stock, valued at $649,466.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Lockwood-Taylor bought 9,500 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average cost of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the purchase, the chief executive officer now directly owns 20,500 shares of the company's stock, valued at $544,070. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 17,990 shares of company stock valued at $475,227. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PRGO has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Perrigo from $35.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. JPMorgan Chase & Co. lowered their price target on Perrigo from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 28th. StockNews.com upgraded Perrigo from a "hold" rating to a "buy" rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group restated a "buy" rating and set a $42.00 price target on shares of Perrigo in a research report on Friday, April 12th.

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.