WINTON GROUP Ltd Buys Shares of 25,020 Primo Brands Co. (NYSE:PRMB)

WINTON GROUP Ltd bought a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,020 shares of the company's stock, valued at approximately $770,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in Primo Brands during the fourth quarter valued at about $28,000. SRS Capital Advisors Inc. acquired a new stake in shares of Primo Brands during the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $30,000. Blue Trust Inc. acquired a new position in shares of Primo Brands in the fourth quarter valued at $33,000. Finally, R Squared Ltd bought a new position in Primo Brands in the fourth quarter worth $42,000. 87.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets started coverage on shares of Primo Brands in a report on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective for the company. TD Securities upped their price objective on Primo Brands from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, February 21st. 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. Deutsche Bank Aktiengesellschaft upped their price target on Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $41.40.

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Primo Brands Stock Performance

Primo Brands stock traded down $0.27 on Tuesday, reaching $35.22. The company's stock had a trading volume of 4,495,442 shares, compared to its average volume of 3,060,552. The company's fifty day moving average is $32.94. 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 stock has a market capitalization of $13.39 billion, a P/E ratio of 41.51, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a twelve month low of $24.41 and a twelve month high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.08). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. As a group, equities analysts forecast that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Primo Brands's previous quarterly dividend of $0.09.

Primo Brands 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.