Primo Brands Corporation (NYSE:PRMB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Primo Brands Corporation (NYSE:PRMB) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $25.9091.

Several analysts recently issued reports on PRMB shares. Jefferies Financial Group raised shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Royal Bank Of Canada set a $28.00 price target on Primo Brands in a research note on Thursday, April 9th. Mizuho lifted their price target on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Finally, TD Securities lifted their price target on Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, February 27th.

Institutional Investors Weigh In On Primo Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Caption Management LLC acquired a new stake in shares of Primo Brands during the 3rd quarter valued at approximately $27,000. LRI Investments LLC boosted its holdings in shares of Primo Brands by 203.1% in the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after buying an additional 1,306 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Primo Brands by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $37,000 after buying an additional 853 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after buying an additional 850 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Primo Brands by 21,481.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock valued at $39,000 after buying an additional 2,363 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $23.36 on Wednesday. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $30.98. The business has a 50 day moving average price of $21.52 and a two-hundred day moving average price of $19.39. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. The firm has a market cap of $8.47 billion, a PE ratio of 166.82, a price-to-earnings-growth ratio of 2.00 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $0.29 EPS. Primo Brands’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts expect that Primo Brands will post 1.25 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands’s dividend payout ratio is currently 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.