17,880 Shares in Primo Brands Co. (NYSE:PRMB) Purchased by LPL Financial LLC

LPL Financial LLC bought a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,880 shares of the company's stock, valued at approximately $550,000.

A number of other large investors also recently modified their holdings of PRMB. Rise Advisors LLC acquired a new stake in Primo Brands in the 4th quarter valued at approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in shares of Primo Brands during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Primo Brands in the fourth quarter worth $30,000. Blue Trust Inc. purchased a new position in Primo Brands during the 4th quarter valued at about $33,000. Finally, R Squared Ltd bought a new stake in shares of Primo Brands during the 4th quarter worth about $42,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada raised their target price on Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft increased their price target on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, February 28th. BMO Capital Markets started 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 on the stock. Finally, Truist Financial began coverage on shares of Primo Brands in a report on Friday, April 4th. They issued a "buy" rating and a $42.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $41.50.

Primo Brands Trading Up 2.1 %

Shares of PRMB stock traded up $0.67 during midday trading on Tuesday, reaching $32.62. 951,198 shares of the stock were exchanged, compared to its average volume of 3,205,538. Primo Brands Co. has a 1 year low of $24.41 and a 1 year high of $35.85. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 0.78 and a beta of 0.82. The company has a 50 day simple moving average of $33.12.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.08). The firm had revenue of $1.40 billion for 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%. As a group, equities analysts expect that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a dividend of $0.10 per share. This is a positive change from Primo Brands's previous quarterly dividend of $0.09. 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 1.23%.

Primo Brands Company Profile

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.