O Shaughnessy Asset Management LLC purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 42,202 shares of the company's stock, valued at approximately $1,299,000.
Several other institutional investors and hedge funds also recently made changes to their positions in PRMB. Vanguard Group Inc. purchased a new position in Primo Brands in the 4th quarter worth about $471,249,000. William Blair Investment Management LLC purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $343,451,000. JPMorgan Chase & Co. bought a new position in Primo Brands during the fourth quarter valued at approximately $122,757,000. Allspring Global Investments Holdings LLC bought a new position in Primo Brands during the fourth quarter valued at approximately $111,169,000. Finally, Pertento Partners LLP purchased a new stake in Primo Brands in the fourth quarter worth approximately $70,301,000. Institutional investors own 87.71% of the company's stock.
Primo Brands Stock Performance
Shares of NYSE PRMB traded up $0.31 during trading on Friday, hitting $33.78. The company had a trading volume of 5,650,827 shares, compared to its average volume of 3,237,725. The company has a 50 day simple moving average of $33.18. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 40.22, a P/E/G ratio of 0.78 and a beta of 0.82. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Brands Co. has a 12 month low of $24.41 and a 12 month high of $35.85.
Primo Brands (NYSE:PRMB - Get Free Report) last issued 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 analysts' expectations 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, analysts predict that Primo Brands Co. will post 1.13 EPS for the current year.
Primo Brands Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a $0.10 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.40 annualized dividend and a yield of 1.18%. This is an increase from Primo Brands's previous quarterly dividend of $0.09.
Analyst Ratings Changes
A number of brokerages have weighed in on PRMB. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Truist Financial assumed coverage on Primo Brands in a research report on Friday, April 4th. They set a "buy" rating and a $42.00 price objective for the company. BMO Capital Markets started coverage on Primo Brands in a research report on Monday, January 6th. They issued an "outperform" rating and a $40.00 target price on the stock. TD Securities started coverage on shares of Primo Brands in a research report on Tuesday. They set a "buy" rating and a $48.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $41.50.
Get Our Latest Stock Report on PRMB
Primo Brands 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.
Further Reading
Before you consider Primo Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Primo Brands wasn't on the list.
While Primo Brands currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
