American Century Companies Inc. Purchases New Holdings in Primo Brands Co. (NYSE:PRMB)

American Century Companies Inc. purchased a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 86,564 shares of the company's stock, valued at approximately $2,664,000.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BMO Capital Markets began coverage on shares of Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Royal Bank of Canada lifted 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. Truist Financial assumed coverage on Primo Brands in a research note on Friday, April 4th. They set a "buy" rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. raised 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Primo Brands presently has a consensus rating of "Buy" and a consensus target price of $41.50.

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Primo Brands Trading Up 0.9 %

Shares of NYSE:PRMB traded up $0.31 on Friday, hitting $33.78. The company had a trading volume of 5,650,827 shares, compared to its average volume of 3,237,725. Primo Brands Co. has a 52-week low of $24.41 and a 52-week high of $35.85. The business has a 50 day moving average of $33.18. The firm has a market capitalization of $12.84 billion, a P/E ratio of 40.22, a PEG ratio of 0.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.08). Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, equities analysts predict that Primo Brands Co. will post 1.13 EPS 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. This is an increase from Primo Brands's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, March 7th.

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.