Boston Partners Invests $2.27 Million in Primo Brands Co. (NYSE:PRMB)

Boston Partners acquired a new stake in shares of Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 73,277 shares of the company’s stock, valued at approximately $2,274,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans acquired a new stake in shares of Primo Brands during the 4th quarter valued at $6,778,000. Tocqueville Asset Management L.P. acquired a new stake in Primo Brands during the fourth quarter valued at $1,862,000. William Blair Investment Management LLC purchased a new position in Primo Brands in the fourth quarter valued at about $343,451,000. Signaturefd LLC acquired a new position in Primo Brands in the 4th quarter worth about $83,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Primo Brands during the 4th quarter worth about $455,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Trading Up 0.1 %

Shares of Primo Brands stock opened at $32.43 on Friday. Primo Brands Co. has a 1-year low of $24.41 and a 1-year high of $35.25. The business has a fifty day moving average price of $32.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a market capitalization of $12.33 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last released its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates 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, research analysts predict that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

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

Analysts Set New Price Targets

PRMB has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. TD Securities boosted 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. 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 on the stock. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.40.

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.