Oberweis Asset Management Inc. Takes Position in Primo Brands Co. (NYSE:PRMB)

Oberweis Asset Management Inc. acquired a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 632,400 shares of the company's stock, valued at approximately $19,459,000. Oberweis Asset Management Inc. owned 0.17% of Primo Brands at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Primo Brands in the fourth quarter worth about $28,000. Fulton Bank N.A. bought a new stake in shares of Primo Brands during the fourth quarter worth $669,000. Green Alpha Advisors LLC acquired a new position in Primo Brands during the 4th quarter worth about $835,000. Procyon Advisors LLC acquired a new stake in Primo Brands in the 4th quarter valued at about $553,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Primo Brands in the fourth quarter valued at approximately $176,000. Institutional investors own 87.71% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PRMB shares. TD Securities assumed coverage on Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price for the company. 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 target price on the stock. BMO Capital Markets assumed coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an "outperform" rating and a $40.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price objective 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. 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 report on Friday, February 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $41.50.

Primo Brands Stock Up 1.7 %

NYSE PRMB traded up $0.53 during trading on Tuesday, reaching $32.48. 855,135 shares of the stock traded hands, compared to its average volume of 3,438,280. The firm's 50-day moving average is $33.12. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 39.18, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. Primo Brands Co. has a fifty-two week low of $18.81 and a fifty-two week high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last announced 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). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Analysts anticipate that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

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

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.