Captrust Financial Advisors Makes New $287,000 Investment in Primo Brands Co. (NYSE:PRMB)

Captrust Financial Advisors bought a new stake in shares of 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 bought 9,319 shares of the company's stock, valued at approximately $287,000.

Several other hedge funds have also recently added to or reduced their stakes in PRMB. PNC Financial Services Group Inc. acquired a new position in shares of Primo Brands during the fourth quarter valued at approximately $252,000. Allspring Global Investments Holdings LLC bought a new position in Primo Brands during the 4th quarter valued at $111,169,000. Sei Investments Co. acquired a new position in shares of Primo Brands during the 4th quarter valued at $10,548,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Primo Brands during the 4th quarter valued at $4,350,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Primo Brands in the 4th quarter worth $2,272,000. Institutional investors own 87.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRMB shares. TD Securities began coverage on Primo Brands in a research note on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a report on Friday, February 28th. Truist Financial began 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 on the stock. Mizuho began coverage on shares of Primo Brands in a research note on Monday, May 12th. They set an "outperform" rating and a $43.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Primo Brands presently has a consensus rating of "Buy" and an average target price of $41.71.

Insider Activity

In related news, Director Tony W. Lee sold 50,657,562 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 116,210,806 shares in the company, valued at approximately $3,680,396,226.02. This trade represents a 30.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 58.40% of the stock is currently owned by corporate insiders.

Primo Brands Trading Up 1.1%

PRMB stock traded up $0.35 during mid-day trading on Tuesday, reaching $32.22. 5,244,696 shares of the stock traded hands, compared to its average volume of 3,673,698. Primo Brands Co. has a 52-week low of $24.41 and a 52-week high of $35.85. The stock has a fifty day moving average of $33.02. The stock has a market capitalization of $12.13 billion, a P/E ratio of -402.75, a P/E/G 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 (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 the consensus estimate of $0.24 by $0.05. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. The business's revenue for the quarter was up 42.1% on a year-over-year basis. Equities research analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. Primo Brands's dividend payout ratio is -500.00%.

Primo Brands 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.