Gamco Investors INC. ET AL Takes Position in Primo Brands Co. (NYSE:PRMB)

Gamco Investors INC. ET AL acquired a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,000 shares of the company's stock, valued at approximately $892,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC acquired a new stake in shares of Primo Brands in the 4th quarter valued at approximately $653,019,000. Vanguard Group Inc. acquired a new stake in Primo Brands during the 4th quarter worth approximately $471,249,000. William Blair Investment Management LLC acquired a new stake in Primo Brands during the 4th quarter worth approximately $343,451,000. JPMorgan Chase & Co. acquired a new stake in Primo Brands during the 4th quarter worth approximately $122,757,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Primo Brands during the 4th quarter worth approximately $111,169,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Trading Down 1.6 %

Shares of PRMB stock traded down $0.54 on Thursday, hitting $32.65. 1,099,662 shares of the stock were exchanged, compared to its average volume of 3,216,337. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 0.78 and a beta of 0.82. Primo Brands Co. has a one year low of $24.41 and a one year high of $35.85. The firm has a 50 day moving average price of $33.16.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.08). Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. On average, sell-side analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a $0.10 dividend. This is a positive change from Primo Brands's previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PRMB shares. BMO Capital Markets started coverage on shares of Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective on the stock. TD Securities started coverage on shares of Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on shares of Primo Brands from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Royal Bank of Canada increased their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $41.50.

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.