7,684 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. acquired a new position in Primo Brands Co. (NYSE:PRMB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,684 shares of the company’s stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Primo Brands in the fourth quarter worth approximately $111,169,000. KBC Group NV acquired a new position in Primo Brands in the fourth quarter valued at approximately $49,585,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Primo Brands during the 4th quarter worth approximately $4,350,000. Strategic Blueprint LLC bought a new position in shares of Primo Brands during the 4th quarter worth approximately $2,355,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Primo Brands during the 4th quarter worth approximately $1,887,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PRMB. BMO Capital Markets began coverage on Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price target on the stock. Royal Bank of Canada increased their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a report on Monday, November 18th. They set a “buy” rating and a $33.00 price target on the stock. TD Securities increased their price target on Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $40.00.

Primo Brands Stock Up 4.3 %

Shares of PRMB opened at $34.00 on Friday. Primo Brands Co. has a 12-month low of $14.10 and a 12-month high of $34.53. The stock has a fifty day moving average price of $32.10. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The company has a market cap of $12.89 billion, a PE ratio of 21.11, a P/E/G ratio of 0.79 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a return on equity of 8.80% and a net margin of 13.63%. On average, analysts expect that Primo Brands Co. will post 0.91 EPS for the current year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a $0.10 dividend. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, March 7th. Primo Brands’s dividend payout ratio is presently 27.95%.

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.