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

Shares of Primo Brands Corporation (NYSE:PRMB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirteen research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.8182.

PRMB has been the topic of a number of analyst reports. BMO Capital Markets reiterated an "outperform" rating and set a $35.00 price objective on shares of Primo Brands in a research note on Friday, January 23rd. Zacks Research upgraded Primo Brands from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. JPMorgan Chase & Co. cut their price objective on Primo Brands from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Primo Brands from $24.00 to $19.00 and set a "hold" rating for the company in a report on Monday, March 30th. Finally, TD Securities upped their price objective on Primo Brands from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Friday, February 27th.

Institutional Investors Weigh In On Primo Brands

A number of hedge funds and other institutional investors have recently modified their holdings of PRMB. One Rock Capital Partners LLC bought a new stake in shares of Primo Brands in the 4th quarter valued at about $1,900,047,000. Viking Global Investors LP grew its holdings in Primo Brands by 290.2% in the 2nd quarter. Viking Global Investors LP now owns 19,602,116 shares of the company's stock worth $580,615,000 after acquiring an additional 14,578,589 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Primo Brands by 189.5% in the fourth 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. increased its position in shares of Primo Brands by 2,486.6% in the second 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. increased its position in shares of Primo Brands by 622.5% in the fourth 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 own 87.71% of the company's stock.

Primo Brands Stock Performance

Shares of PRMB opened at $23.20 on Friday. The firm has a market cap of $8.43 billion, a PE ratio of 165.72, a PEG ratio of 1.78 and a beta of 0.66. The stock's fifty day moving average price is $20.14 and its two-hundred day moving average price is $18.72. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78. Primo Brands has a 1 year low of $14.36 and a 1 year high of $33.29.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.79%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, equities research analysts forecast that Primo Brands will post 1.28 EPS for the current year.

Primo Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands's payout ratio is 342.86%.

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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