Keeley Teton Advisors LLC Acquires New Position in Primo Brands Co. (NYSE:PRMB)

Keeley Teton Advisors LLC bought a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 128,569 shares of the company's stock, valued at approximately $3,956,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRMB. Rise Advisors LLC acquired a new position in shares of Primo Brands in the 4th quarter valued at about $28,000. SRS Capital Advisors Inc. acquired a new position in Primo Brands during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC purchased a new stake in Primo Brands during the fourth quarter worth approximately $30,000. Blue Trust Inc. acquired a new stake in shares of Primo Brands in the fourth quarter worth $33,000. Finally, R Squared Ltd purchased a new position in shares of Primo Brands in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target 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. TD Securities initiated coverage on Primo Brands in a research note on Tuesday, April 8th. They issued a "buy" rating and a $48.00 target price for the company. Truist Financial initiated coverage on Primo Brands in a report on Friday, April 4th. They issued a "buy" rating and a $42.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Primo Brands from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $41.50.

Primo Brands Stock Up 1.3 %

Shares of PRMB traded up $0.43 during trading on Friday, reaching $33.52. The company's stock had a trading volume of 2,758,108 shares, compared to its average volume of 3,235,751. The company has a market cap of $12.74 billion, a P/E ratio of 39.87, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The business's fifty day moving average price is $33.20. Primo Brands Co. has a twelve month low of $24.41 and a twelve month high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.58 billion. As a group, equities analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal 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 given a dividend of $0.10 per share. 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 dividend yield of 1.19%.

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.