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

Shares of Primo Brands Corporation (NYSE:PRMB) have been given an average rating of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.9091.

A number of research analysts have recently commented on the company. Barclays upped their price target on Primo Brands from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Mizuho upped their price target on Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Finally, Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd.

Institutional Trading of Primo Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in PRMB. Caption Management LLC bought a new stake in shares of Primo Brands during the 3rd quarter valued at $27,000. LRI Investments LLC raised its stake in shares of Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after purchasing an additional 1,306 shares during the period. Picton Mahoney Asset Management raised its stake in shares of Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Primo Brands by 76.9% during 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. Finally, Quarry LP raised its stake in shares of Primo Brands by 516.6% during the 4th quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after purchasing an additional 1,994 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Stock Down 0.5%

Shares of NYSE PRMB opened at $24.86 on Friday. Primo Brands has a one year low of $14.36 and a one year high of $30.98. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. The business’s fifty day moving average price is $22.81 and its 200-day moving average price is $20.13. The stock has a market capitalization of $9.02 billion, a PE ratio of 177.58, a P/E/G ratio of 2.15 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.23 EPS 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 firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts anticipate that Primo Brands will post 1.25 EPS for the current year.

Primo Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 4th. Primo Brands’s payout ratio is presently 342.86%.

Primo Brands Company Profile

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.