841,790 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Barclays PLC

Barclays PLC bought a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 841,790 shares of the company's stock, valued at approximately $25,902,000. Barclays PLC owned 0.22% of Primo Brands at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. FMR LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $653,019,000. Vanguard Group Inc. bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $471,249,000. William Blair Investment Management LLC bought a new position in Primo Brands in the fourth quarter worth approximately $343,451,000. JPMorgan Chase & Co. purchased a new stake in Primo Brands during the fourth quarter worth $122,757,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Primo Brands during the 4th quarter valued at $111,169,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRMB shares. JPMorgan Chase & Co. raised their price objective on Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. BMO Capital Markets started coverage on Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective on the stock. TD Securities started coverage on Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 price objective on the stock. Royal Bank of Canada raised 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. Finally, Truist Financial started coverage on Primo Brands in a report on Friday, April 4th. They issued a "buy" rating and a $42.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $41.50.

Primo Brands Price Performance

PRMB stock traded down $0.52 during trading on Thursday, hitting $32.67. 1,099,662 shares of the company traded hands, compared to its average volume of 3,465,354. The stock's 50-day moving average is $33.16. 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 firm has a market capitalization of $12.42 billion, a P/E ratio of 39.70, a PEG ratio of 0.78 and a beta of 0.82. Primo Brands Co. has a 1 year low of $18.66 and a 1 year high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly 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 analysts' expectations of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. Research analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $0.10 dividend. The ex-dividend date 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 1.22%.

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.