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 analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.6364.

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 report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. TD Securities boosted their price target on shares of Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group upgraded shares of 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.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRMB. One Rock Capital Partners LLC acquired a new position in shares of Primo Brands during the 4th quarter valued at $1,900,047,000. Viking Global Investors LP lifted its position in shares of Primo Brands by 290.2% during the 2nd quarter. Viking Global Investors LP now owns 19,602,116 shares of the company’s stock valued at $580,615,000 after acquiring an additional 14,578,589 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Primo Brands by 189.5% during 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 acquiring an additional 9,461,990 shares during the period. Alliancebernstein L.P. lifted its position in shares of Primo Brands by 2,486.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock valued at $173,784,000 after acquiring an additional 5,640,287 shares during the period. Finally, Alyeska Investment Group L.P. lifted its position in shares of Primo Brands by 622.5% during the 4th quarter. Alyeska Investment Group L.P. now owns 6,219,575 shares of the company’s stock valued at $101,690,000 after acquiring an additional 5,358,687 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Stock Down 1.0%

Shares of NYSE PRMB opened at $19.41 on Tuesday. The company has a market capitalization of $7.05 billion, a P/E ratio of 129.42, a price-to-earnings-growth ratio of 1.44 and a beta of 0.66. Primo Brands has a 52-week low of $14.36 and a 52-week high of $35.14. 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 company’s 50 day moving average price is $19.73 and its 200-day moving average price is $18.92.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, topping 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 for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 EPS. Equities analysts forecast 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 was paid on Monday, March 23rd. Investors of record on Friday, March 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, March 6th. This is a boost from Primo Brands’s previous quarterly dividend of $0.10. Primo Brands’s dividend payout ratio is presently 266.67%.

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.