Perrigo Company plc (PRGO) Plans Dividend Increase – $0.19 Per Share

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Thursday, February 15th, RTT News reports. Shareholders of record on Friday, March 2nd will be paid a dividend of 0.19 per share on Tuesday, March 20th. This represents a $0.76 annualized dividend and a yield of 0.87%. This is a positive change from Perrigo’s previous quarterly dividend of $0.16.

Perrigo has increased its dividend by an average of 15.1% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Perrigo has a dividend payout ratio of 13.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Perrigo to earn $5.32 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 12.0%.

Shares of Perrigo (PRGO) traded up $0.88 during midday trading on Thursday, reaching $87.54. 72,440 shares of the company’s stock traded hands, compared to its average volume of 941,186. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72. Perrigo has a 1 year low of $63.68 and a 1 year high of $95.93. The firm has a market cap of $12,085.54, a PE ratio of -9.54, a P/E/G ratio of 1.83 and a beta of 0.76.

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Perrigo to $93.00 and gave the company an “overweight” rating in a research report on Monday, December 4th. Canaccord Genuity restated a “buy” rating and issued a $100.00 price target on shares of Perrigo in a research report on Wednesday, January 17th. Leerink Swann began coverage on shares of Perrigo in a research report on Tuesday, January 2nd. They set a “market perform” rating and a $90.00 price objective for the company. Royal Bank of Canada upgraded shares of Perrigo from an “underperform” rating to a “sector perform” rating and increased their price objective for the stock from $64.00 to $86.00 in a research report on Friday, November 10th. Finally, Wells Fargo & Co increased their price objective on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $93.47.

In related news, VP Todd W. Kingma sold 1,500 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total transaction of $132,780.00. Following the transaction, the vice president now directly owns 19,565 shares of the company’s stock, valued at $1,731,893.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Wesolowski sold 450 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $83.09, for a total transaction of $37,390.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,838 shares of company stock worth $336,784. 6.90% of the stock is owned by insiders.

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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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