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

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.29 per share on Tuesday, March 25th. This represents a $1.16 annualized dividend and a yield of 4.68%. 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 raised its dividend every year for the last 22 years. Perrigo has a 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 2.8 %

Shares of NYSE PRGO opened at $24.81 on Thursday. 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 fifty day simple moving average is $25.06 and its 200 day simple moving average is $26.29. Perrigo has a 12-month low of $23.14 and a 12-month high of $33.46.

Insider Activity at Perrigo

In related news, Director Jeffrey B. Kindler sold 17,598 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.27, for a total transaction of $497,495.46. Following the transaction, the director now directly owns 5,409 shares in the company, valued at approximately $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on PRGO shares. Argus downgraded Perrigo from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler downgraded Perrigo from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $34.00 to $27.00 in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.00.

About Perrigo

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.