Northwest & Ethical Investments L.P. Takes $326,000 Position in Primo Brands Co. (NYSE:PRMB)

Northwest & Ethical Investments L.P. purchased a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,582 shares of the company's stock, valued at approximately $326,000.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Primo Brands in the 4th quarter valued at about $28,000. Fulton Bank N.A. bought a new stake in Primo Brands in the 4th quarter valued at $669,000. Green Alpha Advisors LLC acquired a new position in Primo Brands in the 4th quarter valued at $835,000. Procyon Advisors LLC bought a new position in Primo Brands during the 4th quarter worth $553,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Primo Brands during the fourth quarter worth $176,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

PRMB has been the topic of a number of recent research reports. 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 on the stock. TD Securities increased their target price 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Royal Bank of Canada increased their price target on Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Brands has a consensus rating of "Buy" and an average target price of $41.40.

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Primo Brands Price Performance

PRMB stock traded up $0.65 during midday trading on Tuesday, reaching $32.74. 1,356,599 shares of the stock were exchanged, compared to its average volume of 2,796,216. Primo Brands Co. has a 52 week low of $24.41 and a 52 week high of $35.25. The firm has a fifty day moving average of $32.70. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market cap of $12.44 billion, a PE ratio of 39.04, a PEG ratio of 0.78 and a beta of 1.10.

Primo Brands (NYSE:PRMB - Get Free Report) last released its quarterly earnings results 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 positive return on equity of 10.27% and a negative net margin of 2.74%. As a group, analysts anticipate that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Friday, March 7th. This is a positive change from Primo Brands's previous quarterly dividend of $0.09.

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.