Fifth Lane Capital LP Invests $399,000 in Perrigo Company plc (NYSE:PRGO)

Fifth Lane Capital LP purchased a new stake in shares of Perrigo Company plc (NYSE:PRGO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,500 shares of the company's stock, valued at approximately $399,000. Perrigo makes up about 1.2% of Fifth Lane Capital LP's portfolio, making the stock its 14th largest position.

A number of other large investors have also recently modified their holdings of PRGO. Franklin Resources Inc. bought a new position in Perrigo in the third quarter worth approximately $3,717,000. Barclays PLC lifted its stake in shares of Perrigo by 44.8% during the 3rd quarter. Barclays PLC now owns 120,502 shares of the company's stock worth $3,160,000 after purchasing an additional 37,268 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Perrigo by 65.1% during the third quarter. JPMorgan Chase & Co. now owns 541,000 shares of the company's stock valued at $14,190,000 after purchasing an additional 213,221 shares in the last quarter. Virtu Financial LLC bought a new position in Perrigo in the third quarter worth about $909,000. Finally, Access Investment Management LLC purchased a new stake in shares of Perrigo during the fourth quarter valued at about $7,989,000. Hedge funds and other institutional investors own 95.91% of the company's stock.

Perrigo Stock Performance

PRGO stock traded down $0.22 during midday trading on Tuesday, reaching $25.02. The stock had a trading volume of 403,491 shares, compared to its average volume of 1,518,975. The firm has a fifty day simple moving average of $26.56 and a two-hundred day simple moving average of $26.11. Perrigo Company plc has a 52-week low of $23.14 and a 52-week high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock has a market cap of $3.41 billion, a PE ratio of -21.45 and a beta of 0.45.

Perrigo (NYSE:PRGO - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. As a group, equities research analysts anticipate that Perrigo Company plc will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.64%. Perrigo's payout ratio is currently -92.80%.

Insider Buying and Selling

In other Perrigo news, EVP Ronald Craig Janish sold 7,800 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $27.44, for a total value of $214,032.00. Following the sale, the executive vice president now owns 33,666 shares in the company, valued at approximately $923,795.04. This represents a 18.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PRGO has been the subject of several recent analyst reports. StockNews.com lowered shares of Perrigo from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Argus downgraded Perrigo from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, Piper Sandler downgraded Perrigo from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $34.00 to $27.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $33.00.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.