Tocqueville Asset Management L.P. Invests $1.86 Million in Primo Brands Co. (NYSE:PRMB)

Tocqueville Asset Management L.P. bought a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 60,500 shares of the company’s stock, valued at approximately $1,862,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRMB. Rise Advisors LLC bought a new position in shares of Primo Brands during the 4th quarter valued at about $28,000. SRS Capital Advisors Inc. purchased a new stake in Primo Brands in the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC bought a new position in Primo Brands during the fourth quarter valued at approximately $30,000. Blue Trust Inc. purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $33,000. Finally, R Squared Ltd bought a new stake in shares of Primo Brands in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analysts Set New Price Targets

PRMB has been the topic of several recent research reports. Royal Bank of Canada increased their target price on shares of Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Primo Brands from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, February 28th. TD Securities raised their price target 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, BMO Capital Markets started coverage on Primo Brands in a research note on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $41.40.

Primo Brands Price Performance

PRMB opened at $31.93 on Thursday. Primo Brands Co. has a one year low of $24.41 and a one year high of $35.25. 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’s 50 day simple moving average is $32.61. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). The business had revenue of $1.40 billion for 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%. 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 announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.10 per share. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%.

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.