Captrust Financial Advisors Takes $287,000 Position in Primo Brands Co. (NYSE:PRMB)

Captrust Financial Advisors purchased 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 disclosure with the Securities & Exchange Commission. The fund purchased 9,319 shares of the company's stock, valued at approximately $287,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $30,000. Blue Trust Inc. bought a new position in Primo Brands in the fourth quarter worth approximately $33,000. R Squared Ltd bought a new position in Primo Brands in the fourth quarter worth approximately $42,000. Finally, Federated Hermes Inc. bought a new position in Primo Brands in the fourth quarter worth approximately $55,000. Institutional investors own 87.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented 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 price objective for the company. JPMorgan Chase & Co. boosted their price objective 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. TD Securities started coverage on shares of Primo Brands in a research note on Tuesday, April 8th. They issued a "buy" rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Mizuho started coverage on shares of Primo Brands in a research note on Monday, May 12th. They issued an "outperform" rating and a $43.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $41.71.

Primo Brands Trading Down 1.2%

Shares of PRMB stock opened at $32.02 on Thursday. The business's fifty day simple moving average is $33.04. The firm has a market capitalization of $12.05 billion, a P/E ratio of -400.30, a PEG ratio of 0.78 and a beta of 0.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Brands Co. has a 12-month low of $24.41 and a 12-month high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping 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 positive return on equity of 10.27% and a negative net margin of 2.74%. Primo Brands's revenue was up 42.1% on a year-over-year basis. On average, equities analysts forecast that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Announces Dividend

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

Insider Activity

In other news, Director Tony W. Lee sold 50,657,562 shares of the business's stock in a transaction on Monday, May 12th. The shares were 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 of the company's stock, valued at $3,680,396,226.02. The trade was a 30.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 58.40% of the company's stock.

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.

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