58,094 Shares in Primo Brands Co. (NYSE:PRMB) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 58,094 shares of the company's stock, valued at approximately $1,788,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. acquired a new position in Primo Brands in the fourth quarter valued at approximately $80,225,000. Alyeska Investment Group L.P. acquired a new position in shares of Primo Brands during the fourth quarter worth approximately $31,331,000. Ancora Advisors LLC acquired a new position in shares of Primo Brands during the fourth quarter worth approximately $9,892,000. AXA S.A. acquired a new position in shares of Primo Brands during the fourth quarter worth approximately $1,197,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Primo Brands during the fourth quarter worth approximately $499,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, Director Tony W. Lee sold 50,657,562 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $31.67, for a total value of $1,604,324,988.54. Following the completion of the transaction, the director now owns 116,210,806 shares in the company, valued at $3,680,396,226.02. This represents a 30.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 58.40% of the company's stock.

Wall Street Analyst Weigh In

PRMB has been the topic of a number of research reports. Truist Financial initiated coverage on Primo Brands in a research report on Friday, April 4th. They set a "buy" rating and a $42.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Mizuho initiated coverage on Primo Brands in a research report on Monday, May 12th. They set an "outperform" rating and a $43.00 target price on the stock. TD Securities initiated coverage on Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $41.71.

Primo Brands Stock Up 2.1%

NYSE PRMB traded up $0.66 on Friday, reaching $31.92. The company had a trading volume of 5,467,784 shares, compared to its average volume of 3,661,886. The stock has a market capitalization of $12.02 billion, a PE ratio of -399.00, a P/E/G ratio of 0.78 and a beta of 0.83. The business has a fifty day moving average price of $33.03. Primo Brands Co. has a 52-week low of $24.41 and a 52-week high of $35.85. 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 released 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. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Primo Brands's revenue was up 42.1% compared to the same quarter last year. On average, research analysts expect that Primo Brands Co. will post 1.13 EPS for the current year.

Primo Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Friday, June 6th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. Primo Brands's dividend payout ratio (DPR) is presently -500.00%.

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.