Perrigo Company (PRGO) Plans Quarterly Dividend of $0.16

Perrigo Company (NYSE:PRGO) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Shareholders of record on Friday, December 1st will be given a dividend of 0.16 per share on Tuesday, December 19th. This represents a $0.64 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th.

Perrigo has increased its dividend payment by an average of 17.2% annually over the last three years and has increased its dividend every year for the last 14 years. Perrigo has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Perrigo to earn $5.26 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 12.2%.

Shares of Perrigo (PRGO) opened at $87.70 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.23 and a debt-to-equity ratio of 0.54. Perrigo has a 12-month low of $63.68 and a 12-month high of $91.95. The company has a market capitalization of $12,351.76, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.01 and a beta of 0.69.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. equities analysts predict that Perrigo will post 4.9 EPS for the current year.

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In related news, EVP Sharon Kochan sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $79.03, for a total value of $118,545.00. Following the sale, the executive vice president now directly owns 10,349 shares in the company, valued at approximately $817,881.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Needham sold 3,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total value of $321,716.55. Following the completion of the sale, the executive vice president now owns 10,118 shares in the company, valued at $905,459.82. The disclosure for this sale can be found here. In the last three months, insiders sold 6,894 shares of company stock worth $581,320. Company insiders own 6.90% of the company’s stock.

Several research firms recently commented on PRGO. Jefferies Group LLC reiterated a “hold” rating and issued a $81.00 target price on shares of Perrigo in a research note on Friday. Cantor Fitzgerald restated a “buy” rating and set a $107.00 price target on shares of Perrigo in a research note on Thursday. Royal Bank Of Canada upgraded Perrigo from an “underperform” rating to a “sector perform” rating and upped their price target for the stock from $64.00 to $86.00 in a research note on Friday. Goldman Sachs Group, Inc. (The) upgraded Perrigo from a “sell” rating to a “neutral” rating and upped their price target for the stock from $66.00 to $79.00 in a research note on Friday, August 11th. Finally, Morgan Stanley upped their price target on Perrigo from $79.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $91.50.

Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.

Dividend History for Perrigo (NYSE:PRGO)

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