TD Securities Issues Positive Forecast for Primo Brands (NYSE:PRMB) Stock Price

Primo Brands (NYSE:PRMB) had its price objective upped by TD Securities from $40.00 to $48.00 in a report released on Friday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. raised their price objective on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price for the company. BMO Capital Markets began coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Royal Bank of Canada increased their target price on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Primo Brands presently has an average rating of “Buy” and an average target price of $40.00.

Primo Brands Stock Up 4.3 %

NYSE:PRMB opened at $34.00 on Friday. The company has a 50-day simple moving average of $32.10. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 0.79 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Brands has a twelve month low of $14.10 and a twelve month high of $34.53.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.08). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a net margin of 13.63% and a return on equity of 8.80%. On average, analysts anticipate that Primo Brands will post 0.91 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 7th. Primo Brands’s dividend payout ratio (DPR) is 27.95%.

Hedge Funds Weigh In On Primo Brands

A number of hedge funds have recently made changes to their positions in PRMB. Rise Advisors LLC bought a new position in shares of Primo Brands during the fourth quarter worth about $28,000. Fulton Bank N.A. bought a new stake in Primo Brands in the fourth quarter worth approximately $669,000. Green Alpha Advisors LLC bought a new stake in Primo Brands in the fourth quarter worth approximately $835,000. Procyon Advisors LLC bought a new stake in Primo Brands in the fourth quarter worth approximately $553,000. Finally, Nisa Investment Advisors LLC bought a new stake in Primo Brands in the fourth quarter worth approximately $176,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Company Profile

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.