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

Perrigo Company plc (NYSE:PRGO) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.29 per share on Tuesday, March 24th. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Monday, March 2nd.

Perrigo has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 23 consecutive years. Perrigo has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Perrigo to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 37.9%.

Perrigo Trading Up 2.2%

Shares of NYSE:PRGO traded up $0.32 during trading on Thursday, reaching $14.90. 1,771,328 shares of the company traded hands, compared to its average volume of 2,361,986. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -39.20, a P/E/G ratio of 1.30 and a beta of 0.39. Perrigo has a 52-week low of $12.17 and a 52-week high of $30.93. The company has a current ratio of 2.51, a quick ratio of 1.44 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average is $14.23 and its 200-day moving average is $17.92.

Hedge Funds Weigh In On Perrigo

A number of large investors have recently made changes to their positions in PRGO. EverSource Wealth Advisors LLC grew its position in Perrigo by 116.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,888 shares of the company’s stock worth $26,000 after purchasing an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Perrigo by 439.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 965 shares of the company’s stock valued at $27,000 after buying an additional 786 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Perrigo by 161.5% during the fourth quarter. UMB Bank n.a. now owns 1,964 shares of the company’s stock worth $27,000 after buying an additional 1,213 shares in the last quarter. Huntington National Bank increased its holdings in shares of Perrigo by 237.8% in the second quarter. Huntington National Bank now owns 1,054 shares of the company’s stock valued at $28,000 after purchasing an additional 742 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Perrigo in the 4th quarter valued at about $28,000. 95.91% of the stock is owned by institutional investors and hedge funds.

About Perrigo

Perrigo Company plc is a global healthcare supplier specializing in over-the-counter (OTC) and self-care products, as well as generic prescription pharmaceuticals and active pharmaceutical ingredients. The company develops, manufactures and distributes a broad array of consumer health products, including analgesics, vitamins and supplements, digestive health remedies, topical treatments, and infant formulas. Perrigo’s focus on private-label solutions has made it a leading partner for retailers and pharmacy chains seeking high-quality, value-oriented alternatives to branded medications and health supplements.

Organized across three principal business segments—Consumer Healthcare, Prescription Pharmaceuticals and Active Pharmaceutical Ingredients—Perrigo’s operations span research and development, manufacturing, quality assurance and global distribution.