Perrigo Company (NYSE:PRGO) declared 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 annualized dividend and a yield of 0.79%.

Perrigo has increased its dividend by an average of 17.2% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Perrigo has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Perrigo to earn $5.15 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 12.4%.

Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS.

In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $89.49, for a total transaction of $321,716.55. Following the completion of the transaction, the executive vice president now owns 10,118 shares of the company’s stock, valued at $905,459.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sharon Kochan sold 318 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $81.36, for a total value of $25,872.48. Following the transaction, the executive vice president now directly owns 10,231 shares of the company’s stock, valued at approximately $832,394.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,894 shares of company stock valued at $581,320. 6.90% of the stock is owned by insiders.

Several equities analysts recently weighed in on the stock. Jefferies Group LLC set a $71.00 target price on shares of Perrigo and gave the company a “hold” rating in a research note on Sunday. BidaskClub cut shares of Perrigo from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Cantor Fitzgerald set a $107.00 target price on shares of Perrigo and gave the company a “buy” rating in a research note on Friday, October 20th. UBS AG reissued a “buy” rating and issued a $98.00 target price (up from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of Perrigo in a research note on Monday, October 2nd. They issued a “buy” rating and a $88.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Perrigo has an average rating of “Hold” and an average price target of $88.50.

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About Perrigo

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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