Primo Brands Corporation (NYSE:PRMB) Stock Has Average Price Target of $28.25 According to Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on Primo Brands, with 11 buy ratings and four holds among 15 analysts. The average 12-month price target is $28.25, with recent targets ranging from $29 to $35.
• Primo Brands exceeded quarterly expectations, reporting $0.37 in EPS versus a $0.32 consensus estimate and $1.80 billion in revenue, up 3.8% year over year.
• The company pays a quarterly dividend of $0.12, equivalent to an annualized $0.48 and a 2.4% yield. CEO Eric Foss also purchased 84,000 shares for approximately $2.0 million, while institutional investors own 87.71% of the stock.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $28.25.

Several brokerages have recently weighed in on PRMB. Royal Bank Of Canada upped their target price on shares of Primo Brands from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Morgan Stanley reiterated an "overweight" rating and issued a $29.00 price target on shares of Primo Brands in a research note on Friday, August 7th. TD Cowen reaffirmed a "buy" rating on shares of Primo Brands in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective on shares of Primo Brands from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, TD raised their price objective on shares of Primo Brands from $29.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, August 6th.

Primo Brands Price Performance

Primo Brands stock opened at $19.91 on Tuesday. Primo Brands has a 52 week low of $14.36 and a 52 week high of $26.21. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. The firm's 50-day simple moving average is $22.03 and its 200 day simple moving average is $22.17. The firm has a market capitalization of $7.21 billion, a PE ratio of 76.58, a P/E/G ratio of 1.34 and a beta of 0.71.

Primo Brands (NYSE:PRMB - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $0.36 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that Primo Brands will post 1.27 EPS for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 24th. Primo Brands's dividend payout ratio (DPR) is presently 184.62%.

Insider Buying and Selling at Primo Brands

In related news, CEO Eric Foss bought 84,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $23.80 per share, for a total transaction of $1,999,200.00. Following the completion of the purchase, the chief executive officer directly owned 573,806 shares in the company, valued at approximately $13,656,582.80. The trade was a 17.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primo Brands

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Primo Brands by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company's stock valued at $37,000 after purchasing an additional 853 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Primo Brands by 5.3% in the first quarter. Glenmede Trust Co. NA now owns 21,227 shares of the company's stock worth $400,000 after purchasing an additional 1,075 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its holdings in shares of Primo Brands by 2.2% during the first quarter. Campbell Newman Asset Management Inc. now owns 55,001 shares of the company's stock worth $1,036,000 after purchasing an additional 1,158 shares during the period. IFP Advisors Inc boosted its holdings in shares of Primo Brands by 64.4% during the second quarter. IFP Advisors Inc now owns 3,069 shares of the company's stock worth $75,000 after purchasing an additional 1,202 shares during the period. Finally, Sanctuary Advisors LLC grew its position in Primo Brands by 13.9% during the first quarter. Sanctuary Advisors LLC now owns 12,309 shares of the company's stock valued at $232,000 after purchasing an additional 1,502 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company's stock.

About Primo Brands

Primo Brands Corporation is a beverage company focused on hydration products and water services. Its offerings include purified, spring and mineral water; enhanced and sparkling water; water dispensers; filtration products; and bottled-water delivery services for homes, businesses and other organizations.

The company markets a broad portfolio of regional and national brands, including Primo, Poland Spring, Deer Park, Arrowhead, Ice Mountain, Ozarka, Pure Life and Splash. Its business combines packaged beverages sold through retail and other distribution channels with direct-to-consumer delivery and water solutions supported by dispensers and filtration systems.

Primo Brands was formed through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.

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