Fuller & Thaler Asset Management Inc. Acquires Shares of 4,191,809 Primo Brands Co. (NYSE:PRMB)

Fuller & Thaler Asset Management Inc. acquired a new position in Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,191,809 shares of the company's stock, valued at approximately $128,982,000. Fuller & Thaler Asset Management Inc. owned approximately 1.11% of Primo Brands at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rise Advisors LLC bought a new position in Primo Brands in the fourth quarter worth about $28,000. Fulton Bank N.A. purchased a new position in shares of Primo Brands during the 4th quarter worth approximately $669,000. Green Alpha Advisors LLC bought a new position in shares of Primo Brands in the 4th quarter worth approximately $835,000. Procyon Advisors LLC purchased a new position in shares of Primo Brands in the 4th quarter valued at approximately $553,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $176,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Stock Up 2.3 %

Shares of PRMB opened at $32.95 on Wednesday. Primo Brands Co. has a twelve month low of $24.41 and a twelve month high of $35.85. The company has a market capitalization of $12.52 billion, a P/E ratio of 39.87, a P/E/G ratio of 0.78 and a beta of 0.82. The firm's 50 day moving average price is $33.16. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.08). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. On average, sell-side analysts expect that Primo Brands Co. will post 1.13 EPS for the current year.

Primo Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.40 annualized dividend and a yield of 1.21%. This is a boost from Primo Brands's previous quarterly dividend of $0.09.

Analyst Ratings Changes

A number of research firms have issued reports on PRMB. JPMorgan Chase & Co. increased their price objective on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" 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 issued an "outperform" rating and a $40.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Truist Financial initiated coverage on Primo Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $42.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $41.50.

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.

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