Primo Brands Corporation (NYSE:PRMB) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst consensus: Thirteen analysts rate Primo Brands an average of "Moderate Buy" (nine buys, four holds) with a 12‑month average price target of $25.64 and recent targets ranging roughly from $19 to $29.
• Heavy institutional ownership: Institutional investors own about 87.71% of PRMB, with large recent positions or increases from One Rock, Viking Global, Fuller & Thaler, AllianceBernstein and Alyeska.
• Q4 beat and dividend hike: Primo reported $0.26 EPS and $1.55B revenue (revenue +11.2% YoY), and raised its quarterly dividend to $0.12 ($0.48 annualized, 2.5% yield) despite a high payout ratio of ~266.7%.

Shares of Primo Brands Corporation (NYSE:PRMB - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.6364.

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Primo Brands from $21.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Primo Brands from $24.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. TD Securities boosted their price target on shares of Primo Brands from $27.00 to $29.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Zacks Research upgraded shares of Primo Brands from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group upgraded shares of Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Friday, March 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRMB. One Rock Capital Partners LLC acquired a new position in shares of Primo Brands during the 4th quarter valued at $1,900,047,000. Viking Global Investors LP lifted its position in shares of Primo Brands by 290.2% during the 2nd quarter. Viking Global Investors LP now owns 19,602,116 shares of the company's stock valued at $580,615,000 after acquiring an additional 14,578,589 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Primo Brands by 189.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company's stock valued at $236,333,000 after acquiring an additional 9,461,990 shares during the period. Alliancebernstein L.P. lifted its position in shares of Primo Brands by 2,486.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company's stock valued at $173,784,000 after acquiring an additional 5,640,287 shares during the period. Finally, Alyeska Investment Group L.P. lifted its position in shares of Primo Brands by 622.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 6,219,575 shares of the company's stock valued at $101,690,000 after acquiring an additional 5,358,687 shares during the period. Institutional investors and hedge funds own 87.71% of the company's stock.

Primo Brands Stock Down 1.0%

Shares of NYSE PRMB opened at $19.41 on Tuesday. The company has a market capitalization of $7.05 billion, a P/E ratio of 129.42, a price-to-earnings-growth ratio of 1.44 and a beta of 0.66. Primo Brands has a 52-week low of $14.36 and a 52-week high of $35.14. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95. The company's 50 day moving average price is $19.73 and its 200-day moving average price is $18.92.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The company's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 EPS. Equities analysts forecast that Primo Brands will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, March 6th. This is a boost from Primo Brands's previous quarterly dividend of $0.10. Primo Brands's dividend payout ratio is presently 266.67%.

About Primo Brands

Primo Brands NYSE: PRMB is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.

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