Perrigo Company plc (PRGO) to Issue Quarterly Dividend of $0.29 on March 25th

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Friday, March 7th will be given a dividend of 0.29 per share on Tuesday, March 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Perrigo’s previous quarterly dividend of $0.28.

Perrigo has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend every year for the last 22 years. Perrigo has a dividend payout ratio of 32.7% 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 $1.10 annual dividend with an expected future payout ratio of 35.9%.

Perrigo Stock Performance

Perrigo stock opened at $25.22 on Friday. Perrigo has a 52-week low of $23.14 and a 52-week high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The firm has a 50 day moving average price of $25.01 and a two-hundred day moving average price of $26.28.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $28.27, for a total value of $497,495.46. Following the completion of the sale, the director now owns 5,409 shares of the company’s stock, valued at approximately $152,912.43. This trade represents a 76.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PRGO has been the topic of a number of research analyst reports. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler lowered Perrigo from an “overweight” rating to a “neutral” rating and cut their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. Finally, Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.00.

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.