Primo Brands Corporation (NYSE:PRMB) Stock Has Consensus Target Price of $28.25 According to Brokerages

Shares of Primo Brands Corporation (NYSE:PRMB) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.45.

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Primo Brands in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $25.00 price objective on shares of Primo Brands in a research report on Thursday, August 6th. Morgan Stanley restated an “overweight” rating and issued a $29.00 target price on shares of Primo Brands in a research note on Friday, August 7th. Finally, TD Cowen restated a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th.

Primo Brands Trading Down 0.6%

Shares of PRMB stock opened at $19.16 on Tuesday. The company has a market cap of $6.94 billion, a PE ratio of 73.68, a price-to-earnings-growth ratio of 1.32 and a beta of 0.71. The stock’s 50 day simple moving average is $21.66 and its two-hundred day simple moving average is $22.18. Primo Brands has a 1 year low of $14.36 and a 1 year high of $26.21. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. Primo Brands’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts predict that Primo Brands will post 1.27 earnings per share for the current year.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Primo Brands’s dividend payout ratio is currently 184.62%.

Insider Transactions at Primo Brands

In other Primo Brands news, CEO Eric Foss purchased 84,000 shares of Primo Brands stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $23.80 per share, with a total value of $1,999,200.00. Following the transaction, the chief executive officer owned 573,806 shares of the company’s stock, valued at $13,656,582.80. This represents a 17.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Primo Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 853 shares during the period. Glenmede Trust Co. NA increased its stake in Primo Brands by 5.3% during the 1st quarter. Glenmede Trust Co. NA now owns 21,227 shares of the company’s stock worth $400,000 after buying an additional 1,075 shares in the last quarter. Campbell Newman Asset Management Inc. raised its stake in Primo Brands by 2.2% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 55,001 shares of the company’s stock valued at $1,036,000 after purchasing an additional 1,158 shares during the last quarter. IFP Advisors Inc raised its position in shares of Primo Brands by 64.4% in the second quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock valued at $75,000 after buying an additional 1,202 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Primo Brands by 13.9% in the 1st quarter. Sanctuary Advisors LLC now owns 12,309 shares of the company’s stock valued at $232,000 after acquiring an additional 1,502 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Company Profile

Primo Brands Corporation is a beverage company focused on hydration products and water services. Its offerings include purified, spring and mineral water; enhanced and sparkling water; water dispensers; filtration products; and bottled-water delivery services for homes, businesses and other organizations.

The company markets a broad portfolio of regional and national brands, including Primo, Poland Spring, Deer Park, Arrowhead, Ice Mountain, Ozarka, Pure Life and Splash. Its business combines packaged beverages sold through retail and other distribution channels with direct-to-consumer delivery and water solutions supported by dispensers and filtration systems.

Primo Brands was formed through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.