Invesco Ltd. Purchases Shares of 130,209 Primo Brands Co. (NYSE:PRMB)

Invesco Ltd. acquired a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 130,209 shares of the company's stock, valued at approximately $4,007,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PRMB. Rise Advisors LLC bought a new position in shares of Primo Brands during the 4th quarter valued at about $28,000. SRS Capital Advisors Inc. bought a new position in Primo Brands during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $30,000. Blue Trust Inc. bought a new stake in shares of Primo Brands in the 4th quarter worth approximately $33,000. Finally, R Squared Ltd purchased a new stake in shares of Primo Brands in the 4th quarter valued at $42,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRMB. Royal Bank of Canada lifted their target price 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. BMO Capital Markets started 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. JPMorgan Chase & Co. lifted their price target on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, TD Securities began coverage on shares of Primo Brands in a research report on Tuesday, April 8th. They issued a "buy" rating and a $48.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $41.50.

Primo Brands Trading Down 0.1 %

Shares of PRMB opened at $32.41 on Monday. Primo Brands Co. has a 1-year low of $24.41 and a 1-year high of $35.85. The company has a market cap of $12.32 billion, a price-to-earnings ratio of 39.70, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company's 50-day moving average is $33.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its 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). The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations 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, research analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, March 7th. This is a boost from Primo Brands's previous quarterly dividend of $0.09.

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.

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