Perrigo Company plc (NYSE:PRGO) Plans Quarterly Dividend of $0.29

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Perrigo’s previous quarterly dividend of $0.28.

Perrigo has increased its dividend by an average of 4.8% annually over the last three years and has raised 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. 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 Up 1.7 %

PRGO opened at $25.22 on Friday. Perrigo has a fifty-two week low of $23.14 and a fifty-two week high of $33.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The company’s 50-day moving average is $25.01 and its 200 day moving average is $26.28.

Insider Activity at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction dated Monday, December 9th. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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