Perrigo Company plc (NYSE:PRGO) Declares $0.26 Quarterly Dividend

Perrigo Company plc (NYSE:PRGOGet Rating) announced a quarterly dividend on Thursday, May 5th, RTT News reports. Shareholders of record on Friday, June 3rd will be given a dividend of 0.26 per share on Tuesday, June 21st. This represents a $1.04 dividend on an annualized basis and a yield of 3.22%.

Perrigo has increased its dividend payment by an average of 8.1% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Perrigo has a payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Perrigo to earn $3.31 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 31.4%.

PRGO opened at $32.31 on Friday. Perrigo has a fifty-two week low of $32.03 and a fifty-two week high of $50.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.43 and a quick ratio of 1.79. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -92.31 and a beta of 1.02. The company’s 50 day moving average price is $36.43 and its two-hundred day moving average price is $38.57.

Perrigo (NYSE:PRGOGet Rating) last posted its earnings results on Tuesday, March 1st. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Perrigo had a negative net margin of 1.12% and a positive return on equity of 5.19%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm posted $0.93 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts predict that Perrigo will post 2.46 EPS for the current year.

In other news, EVP Ronald Craig Janish sold 3,954 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $36.73, for a total transaction of $145,230.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Farrington sold 24,485 shares of the firm’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $37.13, for a total value of $909,128.05. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its position in Perrigo by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,273 shares of the company’s stock valued at $1,372,000 after purchasing an additional 322 shares during the period. Comerica Bank grew its holdings in shares of Perrigo by 1.4% during the fourth quarter. Comerica Bank now owns 61,833 shares of the company’s stock valued at $2,387,000 after buying an additional 830 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Perrigo during the fourth quarter worth about $144,000. Legal & General Group Plc raised its holdings in shares of Perrigo by 4.3% in the 4th quarter. Legal & General Group Plc now owns 366,100 shares of the company’s stock worth $14,242,000 after acquiring an additional 15,027 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Perrigo in the 4th quarter worth about $587,000. Institutional investors own 91.25% of the company’s stock.

Separately, initiated coverage on shares of Perrigo in a report on Thursday, March 31st. They set a “hold” rating on the stock.

Perrigo Company Profile (Get Rating)

Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through two segments, Consumer Self-Care Americas and Consumer Self-Care International.

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Dividend History for Perrigo (NYSE:PRGO)

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