Bridgefront Capital LLC Makes New Investment in Primo Brands Co. (NYSE:PRMB)

Bridgefront Capital LLC acquired a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 14,585 shares of the company's stock, valued at approximately $449,000.

A number of other large investors have also recently added to or reduced their stakes in PRMB. Rise Advisors LLC purchased a new position in shares of Primo Brands in the fourth quarter worth approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in Primo Brands during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Primo Brands in the fourth quarter valued at $30,000. Blue Trust Inc. purchased a new stake in shares of Primo Brands in the fourth quarter valued at $33,000. Finally, R Squared Ltd acquired a new stake in shares of Primo Brands in the fourth quarter worth $42,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Trading Down 1.2%

NYSE PRMB traded down $0.39 during trading on Monday, reaching $31.55. The company's stock had a trading volume of 1,813,284 shares, compared to its average volume of 3,416,185. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $11.99 billion, a PE ratio of 39.82, a PEG ratio of 0.78 and a beta of 0.83. Primo Brands Co. has a 1-year low of $24.41 and a 1-year high of $35.85. The stock has a 50-day simple moving average of $32.95.

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

Primo Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, June 6th will be given a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%.

Analyst Upgrades and Downgrades

PRMB has been the topic of several recent analyst reports. Truist Financial assumed coverage on Primo Brands in a research report on Friday, April 4th. They set a "buy" rating and a $42.00 price target on the stock. TD Securities assumed coverage on Primo Brands in a report on Tuesday, April 8th. They issued a "buy" rating and a $48.00 target price on the stock. Mizuho started coverage on shares of Primo Brands in a research report on Monday. They set an "outperform" rating and a $43.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $41.71.

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.