Swiss National Bank Buys Shares of 309,148 Primo Brands Co. (NYSE:PRMB)

Swiss National Bank purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 309,148 shares of the company's stock, valued at approximately $9,512,000. Swiss National Bank owned 0.08% of Primo Brands as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PRMB. Rise Advisors LLC acquired a new stake in shares of Primo Brands during the 4th quarter valued at about $28,000. Fulton Bank N.A. bought a new position in Primo Brands during the fourth quarter worth about $669,000. Green Alpha Advisors LLC acquired a new stake in Primo Brands during the fourth quarter valued at approximately $835,000. Procyon Advisors LLC bought a new stake in shares of Primo Brands in the 4th quarter valued at approximately $553,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Primo Brands in the 4th quarter worth approximately $176,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Primo Brands Trading Up 4.2 %

Primo Brands stock traded up $1.35 during mid-day trading on Tuesday, hitting $33.44. The stock had a trading volume of 4,714,418 shares, compared to its average volume of 2,796,216. The firm's 50-day moving average is $32.75. 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 $12.71 billion, a PE ratio of 39.04, a PEG ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a 12 month low of $24.41 and a 12 month high of $35.25.

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Primo Brands (NYSE:PRMB - Get Free Report) last issued its 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 business 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%. Sell-side analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Primo Brands's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 7th.

Wall Street Analyst Weigh In

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

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.