Neumeier Poma Investment Counsel LLC bought a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 1,071,161 shares of the company's stock, valued at approximately $32,960,000. Primo Brands makes up 3.2% of Neumeier Poma Investment Counsel LLC's portfolio, making the stock its 10th largest position. Neumeier Poma Investment Counsel LLC owned about 0.28% of Primo Brands at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRMB. Rise Advisors LLC bought a new stake in shares of Primo Brands in the 4th quarter worth about $28,000. SRS Capital Advisors Inc. acquired a new stake in shares of Primo Brands during the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $30,000. Blue Trust Inc. acquired a new position in shares of Primo Brands in the 4th quarter worth approximately $33,000. Finally, R Squared Ltd bought a new stake in Primo Brands during the 4th quarter worth approximately $42,000. Institutional investors own 87.71% of the company's stock.
Primo Brands Stock Performance
PRMB traded up $0.85 during trading on Friday, reaching $35.30. 9,883,604 shares of the company's stock were exchanged, compared to its average volume of 3,006,962. The firm has a fifty day moving average of $32.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a fifty-two week low of $24.41 and a fifty-two week high of $35.39.
Primo Brands (NYSE:PRMB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.08). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. Research analysts forecast that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.
Primo Brands Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. This is a boost from Primo Brands's previous quarterly dividend of $0.09.
Analyst Ratings Changes
PRMB has been the subject of several research analyst reports. TD Securities lifted their price objective on Primo Brands from $40.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Royal Bank of Canada increased their price target on shares of Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. BMO Capital Markets assumed coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $41.40.
Read Our Latest Stock Report on Primo Brands
Primo Brands Company Profile
(
Free Report)
Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.
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