Fuller & Thaler Asset Management Inc. Makes New $128.98 Million Investment in Primo Brands Co. (NYSE:PRMB)

Fuller & Thaler Asset Management Inc. purchased a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,191,809 shares of the company's stock, valued at approximately $128,982,000. Fuller & Thaler Asset Management Inc. owned approximately 1.11% of Primo Brands as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. bought a new stake in Primo Brands during the fourth quarter worth about $36,776,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Primo Brands during the 4th quarter worth approximately $10,640,000. Hsbc Holdings PLC bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $2,117,000. State of Tennessee Department of Treasury acquired a new stake in shares of Primo Brands in the 4th quarter valued at approximately $710,000. Finally, Senator Investment Group LP bought a new position in shares of Primo Brands in the fourth quarter valued at $44,109,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial assumed coverage on shares of Primo Brands in a research note on Friday, April 4th. They issued a "buy" rating and a $42.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Primo Brands from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. BMO Capital Markets began coverage on Primo Brands in a research report on Monday, January 6th. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $41.50.

Primo Brands Stock Down 2.2 %

Shares of Primo Brands stock traded down $0.73 on Monday, hitting $31.79. The stock had a trading volume of 1,113,849 shares, compared to its average volume of 3,210,965. The firm has a market capitalization of $12.08 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. 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 Co. has a twelve month low of $24.41 and a twelve month high of $35.85. The company has a 50 day moving average price of $33.14.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.08). Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.58 billion. As a group, equities analysts predict that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $0.10 dividend. This is a boost from Primo Brands's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.40 annualized dividend and a yield of 1.26%.

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.