10,124 Shares in Primo Brands Co. (NYSE:PRMB) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,124 shares of the company's stock, valued at approximately $312,000.

Other large investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in Primo Brands in the 4th quarter worth $28,000. SRS Capital Advisors Inc. acquired a new position in shares of Primo Brands in the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC purchased a new position in Primo Brands in the fourth quarter valued at about $30,000. Blue Trust Inc. purchased a new position in Primo Brands in the fourth quarter valued at about $33,000. Finally, R Squared Ltd acquired a new stake in Primo Brands during the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Primo Brands Trading Down 0.9 %

PRMB stock traded down $0.30 on Tuesday, hitting $33.83. 3,412,256 shares of the company's stock traded hands, compared to its average volume of 3,238,963. The firm has a market cap of $12.86 billion, a PE ratio of 40.33, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. Primo Brands Co. has a 1-year low of $24.41 and a 1-year high of $35.85. The stock's fifty day moving average is $33.19. 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 issued 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). Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.58 billion. On average, equities research analysts anticipate that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

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Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Primo Brands's previous quarterly dividend of $0.09.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRMB. BMO Capital Markets started coverage on shares of Primo Brands in a research note on Monday, January 6th. They issued an "outperform" rating and a $40.00 price target for the company. Royal Bank of Canada upped 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. TD Securities began coverage on Primo Brands in a report on Tuesday, April 8th. They issued a "buy" rating and a $48.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, 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 on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $41.50.

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.