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

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.98%.

Perrigo has raised its dividend 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 33.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 1.9 %

Shares of NYSE PRGO traded down $0.55 during midday trading on Thursday, reaching $27.72. The company’s stock had a trading volume of 201,631 shares, compared to its average volume of 1,704,350. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. Perrigo has a fifty-two week low of $24.82 and a fifty-two week high of $40.28. The stock has a 50 day simple moving average of $27.00 and a 200-day simple moving average of $29.72.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Saturday, May 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.06. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, equities analysts expect that Perrigo will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PRGO shares. 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 decreased their price objective 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. Finally, StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd.

Insider Activity

In other news, EVP Svend Andersen acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $27.90 per share, with a total value of $27,900.00. Following the completion of the transaction, the executive vice president now directly owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by company 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.