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

Key Points

• Analyst sentiment is moderately bullish: Fifteen brokerages give Primo Brands an average “Moderate Buy” rating, with 11 buys and four holds. The average 12-month price target is $28.25, above the stock’s reported $24.65 price.
• Primo Brands exceeded quarterly expectations: The company reported adjusted earnings of $0.37 per share versus the $0.32 consensus estimate and revenue of $1.80 billion, up 3.8% year over year.
• Investor-related developments include a dividend and insider buying: Primo announced a quarterly dividend of $0.12 per share, while CEO Eric Foss purchased 84,000 shares for approximately $2.0 million. Institutional investors own 87.71% of the company’s stock.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $28.25.

A number of research firms recently issued reports on PRMB. Wall Street Zen raised Primo Brands from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Primo Brands in a report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Primo Brands from $26.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Morgan Stanley restated an "overweight" rating and set a $29.00 price objective on shares of Primo Brands in a research report on Friday, August 7th. Finally, Barclays lifted their price objective on shares of Primo Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th.

Primo Brands Stock Performance

PRMB opened at $24.65 on Monday. The business has a 50 day moving average price of $23.98 and a two-hundred day moving average price of $21.83. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 94.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.74. Primo Brands has a 1-year low of $14.36 and a 1-year high of $26.21.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.77 billion. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%.The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. Research analysts predict that Primo Brands will post 1.27 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, August 24th. Primo Brands's dividend payout ratio (DPR) is presently 184.62%.

Insider Transactions at Primo Brands

In other Primo Brands news, CEO Eric J. Foss purchased 84,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $23.80 per share, for a total transaction of $1,999,200.00. Following the completion of the transaction, the chief executive officer owned 573,806 shares in the company, valued at $13,656,582.80. This represents a 17.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 32.90% of the company's stock.

Institutional Investors Weigh In On Primo Brands

Large investors have recently modified their holdings of the stock. Xponance LLC raised its position in Primo Brands by 4.2% during the fourth quarter. Xponance LLC now owns 13,114 shares of the company's stock valued at $214,000 after buying an additional 528 shares during the period. Picton Mahoney Asset Management boosted its position in Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company's stock worth $35,000 after acquiring an additional 850 shares during the period. EverSource Wealth Advisors LLC boosted its position in Primo Brands by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company's stock worth $37,000 after acquiring an additional 853 shares during the period. Madison Asset Management LLC grew its stake in Primo Brands by 0.7% during the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company's stock valued at $2,362,000 after acquiring an additional 943 shares in the last quarter. Finally, US Bancorp DE grew its stake in Primo Brands by 47.2% during the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company's stock valued at $65,000 after acquiring an additional 945 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Primo Brands Company Profile

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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