Tacita Capital Inc Acquires New Holdings in Primo Brands Co. (NYSE:PRMB)

Tacita Capital Inc purchased a new position in Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 79,500 shares of the company's stock, valued at approximately $2,446,000. Primo Brands makes up 1.7% of Tacita Capital Inc's investment portfolio, making the stock its 22nd largest holding.

Other institutional investors also recently added to or reduced their stakes in the company. 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 position in Primo Brands in the fourth quarter valued at about $30,000. Blue Trust Inc. bought a new stake in Primo Brands during the fourth quarter worth about $33,000. R Squared Ltd bought a new stake in Primo Brands during the fourth quarter worth about $42,000. Finally, Amalgamated Bank acquired a new stake in shares of Primo Brands during the fourth quarter worth approximately $166,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Price Performance

Shares of PRMB stock traded down $0.63 on Friday, reaching $31.65. 3,615,445 shares of the stock were exchanged, compared to its average volume of 2,223,580. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Brands Co. has a one year low of $16.36 and a one year high of $35.25. The company has a market capitalization of $12.03 billion, a PE ratio of 40.59, a PEG ratio of 0.78 and a beta of 1.10. The firm's 50 day moving average price is $32.56.

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Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share 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 positive return on equity of 10.27% and a negative net margin of 2.74%. On average, research analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $0.10 dividend. This is a positive change from Primo Brands's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, March 7th.

Analyst Ratings Changes

PRMB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, February 28th. 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 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 company an "outperform" rating in a research note on Monday, January 6th. BMO Capital Markets initiated coverage on Primo Brands in a report on Monday, January 6th. They issued an "outperform" rating and a $40.00 price target for the company. Finally, 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price 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.