Primo Brands Corporation (NYSE:PRMB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Primo Brands Corporation (NYSE:PRMB) have been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $27.25.

PRMB has been the subject of several research reports. TD Securities lifted their price objective on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Primo Brands in a report on Monday, December 29th. The Goldman Sachs Group decreased their target price on shares of Primo Brands from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Finally, Mizuho increased their price target on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th.

Primo Brands Stock Down 2.1%

Shares of PRMB stock opened at $19.35 on Friday. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $35.85. The firm has a market capitalization of $7.03 billion, a PE ratio of 129.02, a P/E/G ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95. The stock’s 50-day simple moving average is $19.71 and its 200-day simple moving average is $19.55.

Primo Brands (NYSE:PRMB) last issued its earnings results on Thursday, February 26th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Primo Brands’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts expect that Primo Brands will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Primo Brands’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Primo Brands’s dividend payout ratio (DPR) is currently 266.67%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRMB. Rockefeller Capital Management L.P. boosted its position in Primo Brands by 2,943.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 242,069 shares of the company’s stock worth $3,958,000 after purchasing an additional 234,114 shares in the last quarter. BDFS Capital LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at approximately $230,000. Invesco Ltd. lifted its stake in shares of Primo Brands by 13.5% in the 4th quarter. Invesco Ltd. now owns 328,023 shares of the company’s stock valued at $5,363,000 after purchasing an additional 39,015 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Primo Brands by 189.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock valued at $236,333,000 after purchasing an additional 9,461,990 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Primo Brands during the fourth quarter worth $2,614,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.