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

Primo Brands Corporation (NYSE:PRMB) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $36.1818.

Several research analysts have recently issued reports on PRMB shares. The Goldman Sachs Group started coverage on shares of Primo Brands in a report on Thursday, September 11th. They issued a “neutral” rating and a $25.00 target price on the stock. Barclays cut their target price on shares of Primo Brands from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, June 16th. Morgan Stanley cut their target price on shares of Primo Brands from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, August 11th. TD Securities cut their target price on shares of Primo Brands from $48.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Royal Bank Of Canada cut their target price on shares of Primo Brands from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Friday, August 8th.

Primo Brands Stock Up 0.7%

Shares of NYSE PRMB opened at $22.50 on Friday. Primo Brands has a one year low of $21.60 and a one year high of $35.85. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.06 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $25.21 and its two-hundred day simple moving average is $29.51. The stock has a market capitalization of $8.40 billion, a P/E ratio of -204.52, a PEG ratio of 0.59 and a beta of 0.76.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.83 billion. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. Primo Brands has set its FY 2025 guidance at EPS. As a group, analysts expect that Primo Brands will post 1.13 EPS for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. Primo Brands’s dividend payout ratio (DPR) is presently -363.64%.

Insider Buying and Selling

In other Primo Brands news, Director Michael John Cramer purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $24.46 per share, with a total value of $97,840.00. Following the completion of the purchase, the director directly owned 12,762 shares of the company’s stock, valued at $312,158.52. The trade was a 45.65% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven P. Stanbrook purchased 12,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $24.04 per share, with a total value of $298,096.00. Following the purchase, the director directly owned 125,025 shares of the company’s stock, valued at $3,005,601. This trade represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 24,685 shares of company stock valued at $595,770 over the last quarter. 58.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Primo Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Primo Brands by 28.7% during the first quarter. Vanguard Group Inc. now owns 19,704,538 shares of the company’s stock valued at $699,314,000 after buying an additional 4,389,327 shares during the period. Viking Global Investors LP lifted its position in Primo Brands by 290.2% during the second quarter. Viking Global Investors LP now owns 19,602,116 shares of the company’s stock valued at $580,615,000 after buying an additional 14,578,589 shares during the period. Boston Partners lifted its position in Primo Brands by 13.7% during the second quarter. Boston Partners now owns 8,089,479 shares of the company’s stock valued at $239,551,000 after buying an additional 971,939 shares during the period. Eminence Capital LP lifted its position in Primo Brands by 48.3% during the first quarter. Eminence Capital LP now owns 7,019,075 shares of the company’s stock valued at $249,107,000 after buying an additional 2,284,912 shares during the period. Finally, Alliancebernstein L.P. lifted its position in Primo Brands by 2,486.6% during the second quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock valued at $173,784,000 after buying an additional 5,640,287 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Company Profile

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.