Ancora Advisors LLC Takes $9.89 Million Position in Primo Brands Co. (NYSE:PRMB)

Ancora Advisors LLC acquired a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 321,469 shares of the company's stock, valued at approximately $9,892,000. Ancora Advisors LLC owned 0.08% of Primo Brands as of its most recent SEC filing.

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

Analyst Ratings Changes

PRMB has been the subject of several analyst reports. Truist Financial started coverage on Primo Brands in a report on Friday, April 4th. They issued a "buy" rating and a $42.00 price objective on the stock. TD Securities initiated coverage on Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $41.50.

Primo Brands Trading Down 0.6 %

Primo Brands stock traded down $0.20 during midday trading on Wednesday, hitting $32.85. The stock had a trading volume of 4,862,344 shares, compared to its average volume of 3,241,499. The business's fifty day moving average is $33.01. Primo Brands Co. has a 12 month low of $24.41 and a 12 month high of $35.85. The company has a market capitalization of $12.49 billion, a PE ratio of 39.65, a P/E/G ratio of 0.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data 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). Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. On average, equities analysts anticipate that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, June 6th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.22%.

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.