UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires New Holdings in Primo Brands Co. (NYSE:PRMB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 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 13F filing with the SEC. The firm purchased 606,674 shares of the company's stock, valued at approximately $18,667,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Primo Brands at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC bought a new position in shares of Primo Brands in the 4th quarter valued at about $653,019,000. Vanguard Group Inc. purchased a new stake in Primo Brands during the fourth quarter valued at approximately $471,249,000. William Blair Investment Management LLC purchased a new stake in Primo Brands during the fourth quarter valued at approximately $343,451,000. Eminence Capital LP bought a new stake in shares of Primo Brands in the 4th quarter valued at approximately $145,670,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Primo Brands in the 4th quarter valued at approximately $128,982,000. Institutional investors own 87.71% of the company's stock.

Primo Brands Trading Down 2.8%

Shares of NYSE PRMB traded down $0.92 during mid-day trading on Monday, reaching $32.15. The company had a trading volume of 6,271,025 shares, compared to its average volume of 3,727,558. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of -401.88, a price-to-earnings-growth ratio of 0.78 and a beta of 0.83. Primo Brands Co. has a 52 week low of $24.41 and a 52 week high of $35.85. The business's 50-day moving average is $33.00 and its 200-day moving average is $32.11. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.

Primo Brands (NYSE:PRMB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.63 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. Primo Brands's revenue for the quarter was up 42.1% on a year-over-year basis. Equities analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors 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 annualized dividend and a yield of 1.24%. Primo Brands's dividend payout ratio (DPR) is currently -500.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on PRMB. TD Securities assumed coverage on Primo Brands in a report on Tuesday, April 8th. They set a "buy" rating and a $48.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. 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 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target 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 report on Monday, May 12th. They set an "outperform" rating and a $43.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $41.75.

Insider Buying and Selling

In related 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 value 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 $3,680,396,226.02. The trade was a 30.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 58.40% of the stock is owned by insiders.

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.