Axa S.A. Invests $1.20 Million in Primo Brands Co. (NYSE:PRMB)

AXA S.A. bought a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 38,888 shares of the company's stock, valued at approximately $1,197,000.

Several other large investors also recently modified their holdings of PRMB. SRS Capital Advisors Inc. acquired a new position in Primo Brands during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC acquired a new position in shares of Primo Brands during the fourth quarter worth $30,000. Blue Trust Inc. acquired a new position in shares of Primo Brands during the fourth quarter worth $33,000. R Squared Ltd acquired a new stake in shares of Primo Brands during the fourth quarter valued at about $42,000. Finally, Federated Hermes Inc. bought a new stake in Primo Brands during the 4th quarter worth approximately $55,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PRMB. TD Securities began coverage on Primo Brands in a research report on Tuesday, April 8th. They issued a "buy" rating and a $48.00 price target on the stock. Mizuho began coverage on Primo Brands in a report on Monday. They issued an "outperform" rating and a $43.00 target price on the stock. JPMorgan Chase & Co. raised their price target 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. Truist Financial started coverage on Primo Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $42.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Primo Brands currently has an average rating of "Buy" and a consensus price target of $41.71.

Insider Buying and Selling

In other Primo Brands news, Director Tony W. Lee sold 50,657,562 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $31.67, for a total transaction of $1,604,324,988.54. Following the sale, the director now owns 116,210,806 shares of the company's stock, valued at $3,680,396,226.02. The trade was a 30.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 58.40% of the stock is currently owned by corporate insiders.

Primo Brands Stock Performance

PRMB traded up $0.39 during mid-day trading on Tuesday, reaching $32.19. 9,703,865 shares of the stock were exchanged, compared to its average volume of 3,502,153. Primo Brands Co. has a 1 year low of $24.41 and a 1 year high of $35.85. 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 stock has a market capitalization of $12.24 billion, a PE ratio of 39.82, a PEG ratio of 0.78 and a beta of 0.83. The business has a 50 day moving average of $32.93.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.05. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. The business's revenue was up 42.1% compared to the same quarter last year. Sell-side analysts expect that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, June 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 1.24%.

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.