Boston Partners Invests $2.27 Million in Primo Brands Co. (NYSE:PRMB)

Boston Partners purchased a new position 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. The institutional investor purchased 73,277 shares of the company's stock, valued at approximately $2,274,000.

A number of other large investors have also made changes to their positions in PRMB. Rise Advisors LLC acquired a new position in shares of Primo Brands during the 4th quarter worth $28,000. Fulton Bank N.A. purchased a new stake in Primo Brands in the 4th quarter worth approximately $669,000. Green Alpha Advisors LLC purchased a new position in Primo Brands during the fourth quarter worth about $835,000. Procyon Advisors LLC purchased a new position in shares of Primo Brands during the 4th quarter worth about $553,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Primo Brands during the 4th quarter valued at $176,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Stock Up 1.9 %

PRMB stock traded up $0.60 during midday trading on Tuesday, reaching $32.69. The company had a trading volume of 1,213,489 shares, compared to its average volume of 2,796,216. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a fifty-two week low of $24.41 and a fifty-two week high of $35.25. The stock's 50 day moving average price is $32.70.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.08). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid 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 1.22%. The ex-dividend date of this dividend was Friday, March 7th.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PRMB shares. Deutsche Bank Aktiengesellschaft increased their target price on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. BMO Capital Markets began coverage on Primo Brands in a report on Monday, January 6th. They set an "outperform" rating and a $40.00 target price for the company. TD Securities raised their price target 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. Royal Bank of Canada lifted their price target on shares of Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Primo Brands presently has a consensus rating of "Buy" and a consensus target price of $41.40.

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.