Brokerages Set Primo Brands Corporation (NYSE:PRMB) Target Price at $27.25

Shares of Primo Brands Corporation (NYSE:PRMB) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.25.

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Primo Brands from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Primo Brands in a research note on Monday, December 29th. Mizuho lifted their price target on shares of Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. BMO Capital Markets reissued an “outperform” rating and set a $35.00 price target on shares of Primo Brands in a research report on Friday, January 23rd. Finally, The Goldman Sachs Group reduced their price target on Primo Brands from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRMB. Xponance LLC grew its holdings in Primo Brands by 4.2% in the 4th quarter. Xponance LLC now owns 13,114 shares of the company’s stock worth $214,000 after buying an additional 528 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Primo Brands by 1.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 47,067 shares of the company’s stock worth $1,040,000 after acquiring an additional 567 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after purchasing an additional 850 shares during the period. Madison Asset Management LLC grew its position in Primo Brands by 0.7% during the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock worth $2,362,000 after purchasing an additional 943 shares in the last quarter. Finally, US Bancorp DE raised its stake in Primo Brands by 47.2% during the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after purchasing an additional 945 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Stock Performance

Shares of PRMB stock opened at $18.23 on Friday. The firm has a fifty day moving average price of $19.72 and a 200 day moving average price of $19.43. Primo Brands has a 12 month low of $14.36 and a 12 month high of $35.85. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The company has a market cap of $6.62 billion, a P/E ratio of 121.53, a PEG ratio of 1.32 and a beta of 0.61.

Primo Brands (NYSE:PRMB) last posted 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. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Sell-side analysts predict that Primo Brands will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a $0.12 dividend. This is a boost from Primo Brands’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, March 6th. Primo Brands’s dividend payout ratio is presently 266.67%.

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.