Primo Brands Co. (NYSE:PRMB) Receives Average Recommendation of "Buy" from Analysts

Shares of Primo Brands Co. (NYSE:PRMB - Get Free Report) have received a consensus recommendation of "Buy" from the six ratings firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $41.50.

Several research analysts recently commented on PRMB shares. Royal Bank of Canada boosted 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. 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 research report on Friday, February 28th. BMO Capital Markets assumed coverage on shares of Primo Brands in a report on Monday, January 6th. They set an "outperform" rating and a $40.00 target price for the company. TD Securities initiated coverage on Primo Brands in a research report on Tuesday, April 8th. They set a "buy" rating and a $48.00 price target on the stock. Finally, Truist Financial started 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.

Institutional Trading of Primo Brands

Large investors have recently made changes to their positions in the company. FMR LLC acquired a new stake in Primo Brands during the 4th quarter worth $653,019,000. Vanguard Group Inc. purchased a new position in shares of Primo Brands in the fourth quarter worth about $471,249,000. William Blair Investment Management LLC acquired a new position in Primo Brands during the fourth quarter worth about $343,451,000. Victory Capital Management Inc. purchased a new stake in Primo Brands during the 1st quarter valued at about $184,225,000. Finally, Eminence Capital LP acquired a new stake in Primo Brands in the 4th quarter valued at about $145,670,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Brands Stock Up 0.4 %

PRMB traded up $0.13 on Tuesday, reaching $33.04. 3,321,447 shares of the company traded hands, compared to its average volume of 3,210,801. 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 firm has a market capitalization of $12.56 billion, a P/E ratio of 39.18, a P/E/G ratio of 0.78 and a beta of 0.82. The firm has a fifty day moving average price of $33.05. Primo Brands has a one year low of $24.41 and a one year high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.58 billion. On average, equities analysts forecast that Primo Brands will post 1.13 earnings per share for the current year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, June 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.21%.

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.