Janus Henderson Group PLC Makes New $2.22 Million Investment in Primo Brands Co. (NYSE:PRMB)

Janus Henderson Group PLC acquired a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 72,000 shares of the company's stock, valued at approximately $2,216,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PRMB. Gotham Asset Management LLC acquired a new position in shares of Primo Brands in the fourth quarter valued at $2,159,000. Focus Partners Wealth bought a new position in Primo Brands in the 4th quarter valued at about $290,000. D. E. Shaw & Co. Inc. acquired a new stake in Primo Brands during the fourth quarter worth approximately $797,000. Deutsche Bank AG bought a new stake in shares of Primo Brands during the fourth quarter worth approximately $7,711,000. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Primo Brands in the fourth quarter valued at approximately $50,249,000. 87.71% of the stock is owned by institutional investors.

Primo Brands Trading Up 2.1%

Primo Brands stock traded up $0.66 during mid-day trading on Monday, reaching $31.92. The company had a trading volume of 5,467,784 shares, compared to its average volume of 3,661,886. The company has a fifty day moving average of $33.03. The firm has a market cap of $12.02 billion, a P/E ratio of -399.00, a P/E/G ratio of 0.78 and a beta of 0.83. Primo Brands Co. has a fifty-two week low of $24.41 and a fifty-two week high of $35.85. 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 data on Thursday, May 8th. The company reported $0.29 earnings per share 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 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%. The business's quarterly revenue was up 42.1% compared to the same quarter last year. Research analysts forecast that Primo Brands Co. will post 1.13 EPS for the current year.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Friday, June 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, June 6th. Primo Brands's dividend payout ratio is currently -500.00%.

Analyst Upgrades and Downgrades

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

Insider Activity at Primo Brands

In other Primo Brands news, Director Tony W. Lee sold 50,657,562 shares of Primo Brands stock in a transaction dated 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 transaction, the director now directly owns 116,210,806 shares of the company's stock, valued at approximately $3,680,396,226.02. The trade was a 30.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 58.40% of the stock is owned by company insiders.

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.