New York State Teachers Retirement System bought a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,336 shares of the company's stock, valued at approximately $441,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of PRMB. Rise Advisors LLC bought a new stake in shares of Primo Brands during the 4th quarter worth $28,000. R Squared Ltd purchased a new position in shares of Primo Brands in the 4th quarter worth about $42,000. Nisa Investment Advisors LLC bought a new position in shares of Primo Brands during the 4th quarter valued at about $176,000. Entropy Technologies LP bought a new position in shares of Primo Brands during the 4th quarter valued at about $236,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Primo Brands during the 4th quarter valued at about $236,000. Hedge funds and other institutional investors own 87.71% of the company's stock.
Primo Brands Stock Performance
Shares of NYSE PRMB traded up $0.04 during trading hours on Friday, hitting $33.70. The company's stock had a trading volume of 5,141,634 shares, compared to its average volume of 2,104,955. Primo Brands Co. has a 12 month low of $16.09 and a 12 month high of $35.25. The stock has a market capitalization of $12.78 billion, a PE ratio of 41.05, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock has a 50-day moving average price of $32.35.
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 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, equities research analysts forecast that Primo Brands Co. will post 1.13 EPS for the current year.
Primo Brands Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, March 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. This is a boost from Primo Brands's previous quarterly dividend of $0.09.
Analyst Upgrades and Downgrades
A number of research analysts have commented on PRMB shares. TD Securities increased their price target on shares of Primo Brands from $40.00 to $48.00 and gave the company a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price 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. BMO Capital Markets assumed 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. Deutsche Bank Aktiengesellschaft raised their price objective on Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday. Finally, Royal Bank of Canada boosted their target price on Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Primo Brands currently has an average rating of "Buy" and an average target price of $41.40.
Read Our Latest Analysis on PRMB
Primo Brands Company Profile
(
Free Report)
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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