Picton Mahoney Asset Management Takes Position in Primo Brands Co. (NYSE:PRMB)

Picton Mahoney Asset Management bought a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,282 shares of the company's stock, valued at approximately $1,239,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Primo Brands in the fourth quarter worth about $28,000. SRS Capital Advisors Inc. acquired a new stake in shares of Primo Brands in the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Primo Brands in the fourth quarter worth about $30,000. Blue Trust Inc. acquired a new stake in shares of Primo Brands in the fourth quarter worth about $33,000. Finally, R Squared Ltd acquired a new stake in shares of Primo Brands in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on 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 Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective for the company. Royal Bank of Canada boosted their price objective on Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. TD Securities boosted their price objective on Primo Brands from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Primo Brands presently has a consensus rating of "Buy" and an average target price of $41.40.

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Primo Brands Trading Up 1.3 %

PRMB traded up $0.41 on Thursday, hitting $32.38. 2,171,266 shares of the stock traded hands, compared to its average volume of 2,758,575. Primo Brands Co. has a 52 week low of $24.41 and a 52 week high of $35.25. 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 $12.31 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 0.78 and a beta of 1.10. The business has a fifty day moving average of $32.61.

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 (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.08). Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.58 billion. On average, equities research analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $0.10 dividend. This is a positive change from Primo Brands's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, March 7th.

Primo Brands Company 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.