Natixis Advisors LLC Takes $770,000 Position in Primo Brands Co. (NYSE:PRMB)

Natixis Advisors LLC bought a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,033 shares of the company's stock, valued at approximately $770,000.

A number of other large investors also recently modified their holdings of PRMB. Clearstead Trust LLC acquired a new position in Primo Brands during the 4th quarter valued at about $154,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $751,000. Picton Mahoney Asset Management purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $1,239,000. Hilton Capital Management LLC bought a new stake in Primo Brands during the fourth quarter worth $2,753,000. Finally, Intact Investment Management Inc. purchased a new stake in Primo Brands in the 4th quarter valued at $4,369,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Stock Up 2.5 %

NYSE:PRMB traded up $0.85 during mid-day trading on Friday, hitting $35.30. 9,883,604 shares of the stock traded hands, compared to its average volume of 3,006,962. The firm's 50-day moving average is $32.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Brands Co. has a 12-month low of $24.41 and a 12-month high of $35.39. The company has a market cap of $13.42 billion, a P/E ratio of 41.51, a PEG ratio of 0.78 and a beta of 1.10.

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). Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.58 billion. Analysts anticipate that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Remove Ads

Primo Brands Increases Dividend

The firm also recently disclosed 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 is a positive change from Primo Brands's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Securities lifted their price objective on shares of Primo Brands from $40.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on shares of Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Royal Bank of Canada increased their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. BMO Capital Markets began coverage on Primo Brands in a research note on Monday, January 6th. They issued an "outperform" rating and a $40.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $41.40.

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.