Atria Wealth Solutions Inc. Buys Shares of 9,191 Primo Brands Co. (NYSE:PRMB)

Atria Wealth Solutions Inc. acquired a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 9,191 shares of the company's stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Primo Brands during the fourth quarter worth $28,000. Blue Trust Inc. purchased a new stake in Primo Brands during the 4th quarter worth about $33,000. R Squared Ltd acquired a new position in shares of Primo Brands during the 4th quarter worth about $42,000. Nisa Investment Advisors LLC purchased a new position in shares of Primo Brands in the 4th quarter valued at about $176,000. Finally, Entropy Technologies LP purchased a new stake in Primo Brands during the fourth quarter worth approximately $236,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Price Performance

Shares of PRMB stock traded up $0.27 during midday trading on Tuesday, hitting $33.55. The company had a trading volume of 1,445,518 shares, compared to its average volume of 2,147,665. Primo Brands Co. has a 52-week low of $16.09 and a 52-week high of $35.25. The firm has a market capitalization of $12.72 billion, a PE ratio of 40.77, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. 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 50 day simple moving average of $32.45.

Primo Brands (NYSE:PRMB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share 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 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%. Analysts anticipate that Primo Brands Co. will post 1.13 EPS for the current year.

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Primo Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. This is a boost from Primo Brands's previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 7th.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TD Securities upped their target price on shares of Primo Brands from $40.00 to $48.00 and gave the company a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Royal Bank of Canada raised their price target on Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday. Finally, BMO Capital Markets initiated coverage on shares of Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company 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.