Samjo Management LLC Invests $10.01 Million in Primo Brands Co. (NYSE:PRMB)

Samjo Management LLC purchased a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 325,330 shares of the company's stock, valued at approximately $10,010,000. Primo Brands makes up approximately 3.8% of Samjo Management LLC's investment portfolio, making the stock its 7th biggest holding. Samjo Management LLC owned about 0.09% of Primo Brands as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Green Alpha Advisors LLC bought a new stake in shares of Primo Brands in the 4th quarter valued at approximately $835,000. PNC Financial Services Group Inc. bought a new stake in Primo Brands in the fourth quarter worth $252,000. Fulton Bank N.A. purchased a new position in Primo Brands during the fourth quarter worth $669,000. Allspring Global Investments Holdings LLC bought a new position in Primo Brands during the fourth quarter valued at $111,169,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Primo Brands in the 4th quarter worth about $4,350,000. Institutional investors own 87.71% of the company's stock.

Primo Brands Trading Down 1.2 %

Primo Brands stock traded down $0.42 during mid-day trading on Thursday, hitting $33.50. The company had a trading volume of 2,160,017 shares, compared to its average volume of 3,197,916. The firm's fifty day moving average is $33.16. Primo Brands Co. has a 12-month low of $24.41 and a 12-month high of $35.85. The stock has a market cap of $12.74 billion, a P/E ratio of 40.22, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

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Primo Brands (NYSE:PRMB - Get Free Report) last announced 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). Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.58 billion. As a group, sell-side analysts expect that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Primo Brands's previous quarterly dividend of $0.09.

Analysts Set New Price Targets

Several brokerages recently commented on PRMB. Deutsche Bank Aktiengesellschaft upped their price target on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a report on Friday, February 28th. Truist Financial started coverage on Primo Brands in a research note on Friday, April 4th. They set a "buy" rating and a $42.00 price target for the company. TD Securities assumed coverage on shares of Primo Brands in a research note on Tuesday. They issued a "buy" rating and a $48.00 target price on the stock. BMO Capital Markets started coverage on Primo Brands in a report on Monday, January 6th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada lifted their price target on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $41.50.

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.