Signaturefd LLC Buys New Shares in Primo Brands Co. (NYSE:PRMB)

Signaturefd LLC purchased a new position in Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,688 shares of the company’s stock, valued at approximately $83,000.

Several other institutional investors have also recently made changes to their positions in PRMB. Rise Advisors LLC bought a new position in Primo Brands in the 4th quarter worth $28,000. SRS Capital Advisors Inc. bought a new position in shares of Primo Brands in the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Primo Brands during the fourth quarter worth about $30,000. Blue Trust Inc. bought a new stake in Primo Brands during the 4th quarter valued at approximately $33,000. Finally, R Squared Ltd purchased a new position in Primo Brands in the 4th quarter worth approximately $42,000. Institutional investors own 87.71% of the company’s stock.

Primo Brands Trading Down 0.9 %

PRMB opened at $32.01 on Tuesday. The stock has a 50-day moving average of $32.70. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Brands Co. has a 12 month low of $24.41 and a 12 month high of $35.25. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 39.04, a P/E/G 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 the consensus estimate of $0.19 by ($0.08). The company 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%. On average, research analysts forecast that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%.

Analysts Set New Price Targets

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

About Primo Brands

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.