Blair William & Co. IL Purchases Shares of 46,647 Primo Brands Co. (NYSE:PRMB)

Blair William & Co. IL acquired a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 46,647 shares of the company’s stock, valued at approximately $1,435,000.

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

Primo Brands Stock Performance

Shares of NYSE:PRMB opened at $34.76 on Thursday. Primo Brands Co. has a twelve month low of $24.41 and a twelve month high of $35.85. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The firm has a fifty day simple moving average of $33.03.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, analysts anticipate that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft increased their target price on Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 28th. TD Securities increased their price objective on Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada boosted their target price on shares of Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, 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 target for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target 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.