Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 38,668 shares of the company's stock, valued at approximately $1,190,000.
A number of other large investors also recently modified their holdings of PRMB. SRS Capital Advisors Inc. bought a new stake in shares of Primo Brands during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Primo Brands in the fourth quarter worth approximately $30,000. Blue Trust Inc. purchased a new stake in shares of Primo Brands in the fourth quarter worth approximately $33,000. Federated Hermes Inc. bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $55,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $62,000. 87.71% of the stock is currently owned by institutional investors.
Primo Brands Stock Performance
Primo Brands stock traded up $0.49 during trading on Friday, hitting $31.18. The stock had a trading volume of 5,535,179 shares, compared to its average volume of 3,807,254. The stock's 50 day moving average is $32.78 and its two-hundred day moving average is $32.12. Primo Brands Co. has a 1 year low of $24.41 and a 1 year high of $35.85. The stock has a market cap of $11.74 billion, a price-to-earnings ratio of -389.81, a price-to-earnings-growth ratio of 0.78 and a beta of 0.83. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.
Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating 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 analysts' expectations of $1.63 billion. The business's quarterly revenue was up 42.1% compared to the same quarter last year. As a group, analysts predict that Primo Brands Co. will post 1.13 EPS for the current year.
Primo Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, June 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, June 6th. Primo Brands's payout ratio is currently -500.00%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on PRMB shares. Truist Financial started coverage on shares of Primo Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $42.00 target price for the company. Bank of America assumed coverage on shares of Primo Brands in a research note on Wednesday, May 28th. They issued a "buy" rating and a $42.00 price objective for the company. TD Securities began coverage on shares of Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price on the stock. Barclays initiated coverage on Primo Brands in a research note on Wednesday. They issued an "overweight" rating and a $40.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft increased 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. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $41.56.
Check Out Our Latest Stock Report on Primo Brands
Insider Buying and Selling
In related news, Director Tony W. Lee sold 50,657,562 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $31.67, for a total transaction of $1,604,324,988.54. Following the sale, the director now directly owns 116,210,806 shares in the company, valued at approximately $3,680,396,226.02. The trade was a 30.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 58.40% of the stock is owned by insiders.
About Primo Brands
(
Free Report)
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.
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