Peak6 LLC Makes New $441,000 Investment in Primo Brands Co. (NYSE:PRMB)

PEAK6 LLC acquired a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,334 shares of the company's stock, valued at approximately $441,000.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRMB shares. TD Securities began coverage on Primo Brands in a research note on Tuesday, April 8th. They set a "buy" rating and a $48.00 price target on the stock. BMO Capital Markets assumed coverage on shares of Primo Brands in a research report on Monday, January 6th. They set an "outperform" rating and a $40.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Primo Brands from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Royal Bank of Canada lifted their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Finally, Truist Financial started coverage on Primo Brands in a research report on Friday, April 4th. They issued a "buy" rating and a $42.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $41.50.

Primo Brands Stock Down 0.1 %

Shares of NYSE:PRMB traded down $0.02 during midday trading on Friday, reaching $32.41. The company's stock had a trading volume of 2,778,059 shares, compared to its average volume of 3,228,990. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 0.78 and a beta of 0.82. The firm has a fifty day moving average price of $33.14. Primo Brands Co. has a twelve month low of $24.41 and a twelve month high of $35.85. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share 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%. Sell-side analysts anticipate that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

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

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.