Advantage Alpha Capital Partners LP Takes $5.49 Million Position in Primo Brands Co. (NYSE:PRMB)

Advantage Alpha Capital Partners LP purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 178,497 shares of the company's stock, valued at approximately $5,492,000. Primo Brands makes up 1.3% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC bought a new position in Primo Brands in the 4th quarter worth approximately $28,000. SRS Capital Advisors Inc. purchased a new position in shares of Primo Brands in the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC acquired a new stake in Primo Brands during the 4th quarter valued at $30,000. Blue Trust Inc. purchased a new stake in Primo Brands in the 4th quarter worth about $33,000. Finally, R Squared Ltd acquired a new stake in shares of Primo Brands during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Trading Up 0.1 %

NYSE:PRMB opened at $32.43 on Monday. The firm has a fifty day moving average price of $32.68. Primo Brands Co. has a 1-year low of $24.41 and a 1-year high of $39.23. The company has a market capitalization of $12.33 billion, a PE ratio of 38.89, a PEG ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Primo Brands (NYSE:PRMB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 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 analyst estimates of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. On average, equities analysts predict 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 represents a $0.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Primo Brands's previous quarterly dividend of $0.09.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PRMB shares. Royal Bank of Canada boosted their price target on 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. increased their price objective on Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lifted their price objective 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 initiated coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an "outperform" rating and a $40.00 price target for the company. Finally, TD Securities upped their target price 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Brands has a consensus rating of "Buy" and a consensus target price of $41.40.

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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.

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