1,071,161 Shares in Primo Brands Co. (NYSE:PRMB) Purchased by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,071,161 shares of the company’s stock, valued at approximately $32,960,000. Primo Brands accounts for approximately 3.2% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 10th largest position. Neumeier Poma Investment Counsel LLC owned 0.28% of Primo Brands at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PRMB. Rise Advisors LLC purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $28,000. Fulton Bank N.A. bought a new position in Primo Brands during the 4th quarter valued at approximately $669,000. Green Alpha Advisors LLC purchased a new position in Primo Brands during the fourth quarter valued at $835,000. Procyon Advisors LLC bought a new stake in Primo Brands in the fourth quarter worth $553,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Primo Brands in the fourth quarter worth $176,000. Institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PRMB shares. Royal Bank of Canada lifted their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Primo Brands from $38.00 to $41.00 and gave the company 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 company a “buy” rating in a research report on Friday, February 21st. Finally, BMO Capital Markets assumed coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $41.40.

Primo Brands Stock Up 1.4 %

Shares of PRMB stock opened at $34.00 on Thursday. 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 business has a 50 day moving average of $32.79. Primo Brands Co. has a 52 week low of $24.41 and a 52 week high of $35.25. The company has a market capitalization of $12.92 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 0.78 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last posted 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 company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Analysts anticipate that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a $0.10 dividend. This is an increase from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%.

Primo Brands 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.