Primo Brands Corporation (NYSE:PRMB) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Primo Brands has a consensus analyst rating of “Moderate Buy”, with 9 buy ratings and 4 hold ratings among 13 covering analysts. The average 12-month price target is about $26.36.
• Several brokerages recently adjusted their views upward, including Jefferies upgrading the stock to buy and JPMorgan raising its price target to $29. Barclays and RBC also lifted targets, though Deutsche Bank cut its target and kept a hold rating.
• The company reported mixed quarterly results, missing EPS estimates by a penny while revenue came in above expectations. Primo Brands also pays a quarterly dividend of $0.12, equal to a 2.0% annualized yield.

Shares of Primo Brands Corporation (NYSE:PRMB - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $26.3636.

A number of brokerages have commented on PRMB. Jefferies Financial Group raised Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Friday, March 27th. Barclays upped their target price on Primo Brands from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Tuesday. Royal Bank Of Canada set a $28.00 price target on shares of Primo Brands in a research report on Thursday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of Primo Brands from $26.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Primo Brands from $24.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, March 30th.

Institutional Trading of Primo Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRMB. One Rock Capital Partners LLC bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $1,900,047,000. Viking Global Investors LP grew its holdings in Primo Brands by 17.5% during the third quarter. Viking Global Investors LP now owns 23,033,970 shares of the company's stock worth $509,051,000 after buying an additional 3,431,854 shares in the last quarter. Vanguard Group Inc. grew its holdings in Primo Brands by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company's stock worth $376,522,000 after buying an additional 1,053,185 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Primo Brands by 189.5% in 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 buying an additional 9,461,990 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Primo Brands by 6.7% in the 4th quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company's stock valued at $206,458,000 after buying an additional 793,036 shares during the last quarter. 87.71% of the stock is owned by institutional investors.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $23.70 on Thursday. The firm has a market capitalization of $8.60 billion, a P/E ratio of 169.31, a P/E/G ratio of 2.04 and a beta of 0.73. The firm's 50-day moving average price is $24.05 and its 200-day moving average price is $21.19. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72. Primo Brands has a 1-year low of $14.36 and a 1-year high of $29.20.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The business's quarterly revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Primo Brands will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 2.0%. Primo Brands's dividend payout ratio (DPR) is presently 342.86%.

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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