10,582 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. bought a new position in shares of Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,582 shares of the company’s stock, valued at approximately $326,000.

Several other hedge funds have also added to or reduced their stakes in PRMB. Rise Advisors LLC acquired a new stake in Primo Brands during the 4th quarter worth approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in Primo Brands during the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC acquired a new stake in Primo Brands during the 4th quarter worth approximately $30,000. Blue Trust Inc. acquired a new stake in Primo Brands during the 4th quarter worth approximately $33,000. Finally, R Squared Ltd bought a new position in Primo Brands during the 4th quarter worth approximately $42,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRMB. Deutsche Bank Aktiengesellschaft raised their price target on shares of Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 28th. BMO Capital Markets began coverage on shares of Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price target for the company. JPMorgan Chase & Co. raised their price target 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. TD Securities raised their price target on shares of Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada raised 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $41.40.

Primo Brands Stock Up 0.1 %

NYSE:PRMB opened at $32.43 on Friday. The company has a fifty day moving average of $32.68. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 0.78 and a beta of 1.10. 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 twelve month low of $24.41 and a twelve month high of $35.25.

Primo Brands (NYSE:PRMB) last released 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 company had revenue of $1.40 billion during 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%. On average, analysts anticipate that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, March 7th. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09.

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.