Nomura Asset Management Co. Ltd. Acquires New Shares in Primo Brands Co. (NYSE:PRMB)

Nomura Asset Management Co. Ltd. purchased a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,357 shares of the company's stock, valued at approximately $226,000.

A number of other institutional investors have also recently made changes to their positions in PRMB. Rise Advisors LLC bought a new stake in Primo Brands in the 4th quarter worth approximately $28,000. SRS Capital Advisors Inc. purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC bought a new stake in shares of Primo Brands in the 4th quarter worth approximately $30,000. Blue Trust Inc. purchased a new stake in shares of Primo Brands in the 4th quarter valued at $33,000. Finally, R Squared Ltd bought a new position in shares of Primo Brands during the 4th quarter valued at $42,000. Institutional investors own 87.71% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PRMB. Royal Bank of Canada boosted their price target on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. TD Securities began coverage on Primo Brands in a research note on Tuesday. They issued a "buy" rating and a $48.00 target price for the company. Truist Financial assumed coverage on Primo Brands in a research report on Friday. They set a "buy" rating and a $42.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, BMO Capital Markets began coverage on Primo Brands in a research note on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective for the company. Six investment 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 price target of $41.50.

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Primo Brands Trading Down 0.8 %

Shares of PRMB stock traded down $0.28 during trading hours on Tuesday, reaching $32.71. The company's stock had a trading volume of 4,411,098 shares, compared to its average volume of 3,188,603. 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 Co. has a one year low of $24.41 and a one year high of $35.85. The company has a market capitalization of $12.43 billion, a PE ratio of 40.22, a P/E/G ratio of 0.78 and a beta of 0.82. The business's fifty day moving average is $33.11.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. As a group, equities research analysts forecast that Primo Brands Co. will post 1.13 earnings per share 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 annualized dividend and a dividend yield of 1.22%. This is a positive change from Primo Brands's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 7th.

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.