Los Angeles Capital Management LLC Purchases Shares of 7,823 Primo Brands Co. (NYSE:PRMB)

Los Angeles Capital Management LLC purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,823 shares of the company's stock, valued at approximately $241,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter worth about $28,000. Blue Trust Inc. bought a new position in shares of Primo Brands in the fourth quarter worth about $33,000. R Squared Ltd bought a new position in shares of Primo Brands in the fourth quarter worth about $42,000. Amalgamated Bank bought a new position in shares of Primo Brands in the fourth quarter worth about $166,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter worth about $176,000. 87.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRMB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 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 lifted their price target 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. TD Securities lifted their price target on shares of Primo Brands from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, BMO Capital Markets started coverage on shares of Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $41.40.

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Primo Brands Stock Down 2.2 %

NYSE PRMB traded down $0.73 during trading on Friday, reaching $31.65. 3,615,445 shares of the stock traded hands, compared to its average volume of 2,223,662. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. The firm's 50-day moving average is $32.57. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Brands Co. has a fifty-two week low of $16.36 and a fifty-two week high of $35.25.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) 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 analyst estimates of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. Analysts anticipate 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 will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.26%. 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.