182,431 Shares in Primo Brands Co. (NYSE:PRMB) Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new stake in Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 182,431 shares of the company’s stock, valued at approximately $5,613,000.

Several other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Primo Brands in the fourth quarter valued at about $28,000. Fulton Bank N.A. bought a new stake in shares of Primo Brands during the 4th quarter valued at approximately $669,000. Green Alpha Advisors LLC acquired a new position in Primo Brands during the 4th quarter worth approximately $835,000. Procyon Advisors LLC bought a new position in Primo Brands in the 4th quarter valued at approximately $553,000. Finally, Nisa Investment Advisors LLC bought a new position in Primo Brands in the 4th quarter valued at approximately $176,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PRMB shares. BMO Capital Markets assumed coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an “outperform” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. TD Securities increased their target price on Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada upped their price objective on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $41.40.

Primo Brands Trading Down 0.1 %

Shares of PRMB opened at $31.30 on Friday. The stock’s 50-day moving average is $32.56. Primo Brands Co. has a 12 month low of $24.41 and a 12 month high of $35.25. The firm has a market cap of $11.90 billion, a P/E ratio of 39.01, a PEG ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Equities research analysts predict that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The company 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. The ex-dividend date is Friday, March 7th. This is a boost from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.28%.

About Primo Brands

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.