116,342 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC purchased a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 116,342 shares of the company's stock, valued at approximately $3,580,000.

Other hedge funds have also bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in Primo Brands in the 4th quarter worth about $5,109,000. Sei Investments Co. purchased a new stake in shares of Primo Brands in the fourth quarter valued at approximately $10,548,000. American Century Companies Inc. purchased a new position in shares of Primo Brands during the 4th quarter valued at approximately $2,664,000. Virtu Financial LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at approximately $463,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in Primo Brands in the 4th quarter valued at $326,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Stock Up 2.8 %

PRMB traded up $0.90 during trading on Tuesday, reaching $32.99. The company's stock had a trading volume of 1,676,619 shares, compared to its average volume of 2,796,216. 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 stock has a fifty day simple moving average of $32.70. The company has a market capitalization of $12.54 billion, a P/E ratio of 39.04, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a 1 year low of $24.41 and a 1 year high of $35.25.

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Primo Brands (NYSE:PRMB - Get Free Report) last released 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 company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, equities analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on PRMB. BMO Capital Markets started coverage on shares of Primo Brands in a report on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. raised their price target 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Royal Bank of Canada raised their target price on Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Finally, TD Securities boosted their price target on Primo Brands from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average 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.