46,647 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Blair William & Co. IL

Blair William & Co. IL purchased a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,647 shares of the company's stock, valued at approximately $1,435,000.

Other hedge funds also recently added to or reduced their stakes in the company. Green Alpha Advisors LLC purchased a new position in Primo Brands during the 4th quarter worth approximately $835,000. PNC Financial Services Group Inc. purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $252,000. Fulton Bank N.A. purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $669,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Primo Brands in the 4th quarter valued at $111,169,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Primo Brands in the 4th quarter valued at $4,350,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PRMB shares. Royal Bank of Canada raised their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, February 28th. BMO Capital Markets began coverage on Primo Brands in a research note on Monday, January 6th. They issued an "outperform" rating and a $40.00 target price on the stock. TD Securities upped their price target on Primo Brands from $40.00 to $48.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Six equities research analysts have rated the stock with a buy rating, According to 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 Price Performance

NYSE PRMB traded down $0.38 on Monday, hitting $33.00. 5,321,347 shares of the company's stock were exchanged, compared to its average volume of 3,176,376. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $33.11. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 42.42, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. Primo Brands Co. has a fifty-two week low of $24.41 and a fifty-two week high of $35.85.

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 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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. On average, research analysts predict that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, March 7th. This is an increase from Primo Brands's previous quarterly dividend of $0.09.

About Primo Brands

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.