Charles Schwab Investment Management Inc. Acquires Shares of 1,202,322 Primo Brands Co. (NYSE:PRMB)

Charles Schwab Investment Management Inc. bought a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,202,322 shares of the company's stock, valued at approximately $36,995,000. Charles Schwab Investment Management Inc. owned approximately 0.32% of Primo Brands as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in Primo Brands in the 4th quarter valued at about $30,000. Blue Trust Inc. bought a new position in Primo Brands during the fourth quarter worth about $33,000. R Squared Ltd acquired a new position in Primo Brands during the fourth quarter worth approximately $42,000. Finally, Amalgamated Bank bought a new stake in Primo Brands in the fourth quarter valued at approximately $166,000. Institutional investors own 87.71% of the company's stock.

Primo Brands Trading Up 0.6 %

NYSE PRMB traded up $0.18 during trading on Wednesday, reaching $32.00. The company's stock had a trading volume of 879,511 shares, compared to its average volume of 2,972,825. The company has a 50 day moving average of $32.59. Primo Brands Co. has a 12 month low of $17.27 and a 12 month high of $35.25. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

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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 (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.58 billion. On average, equities analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Primo Brands's previous quarterly dividend of $0.09.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. TD Securities upped their price objective 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. 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 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Finally, Royal Bank of Canada boosted their price objective on Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $41.40.

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.