National Bank of Canada FI Buys Shares of 4,812 Primo Brands Co. (NYSE:PRMB)

National Bank of Canada FI bought a new position in shares of Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,812 shares of the company’s stock, valued at approximately $148,000.

A number of other institutional investors have also made changes to their positions in PRMB. Rise Advisors LLC acquired a new position in shares of Primo Brands in the 4th quarter worth approximately $28,000. Fulton Bank N.A. purchased a new stake in Primo Brands in the fourth quarter valued at approximately $669,000. Green Alpha Advisors LLC acquired a new position in Primo Brands during the fourth quarter worth $835,000. Procyon Advisors LLC purchased a new position in shares of Primo Brands during the fourth quarter worth $553,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Primo Brands in the fourth quarter valued at $176,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Performance

Shares of PRMB opened at $33.78 on Friday. Primo Brands Co. has a 1 year low of $24.41 and a 1 year high of $35.85. The stock has a market cap of $12.84 billion, a PE ratio of 40.22, a PEG ratio of 0.78 and a beta of 0.82. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average of $33.18.

Primo Brands (NYSE:PRMB) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.08). Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.58 billion. Analysts predict that Primo Brands Co. will post 1.13 EPS for the current year.

Primo Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Primo Brands’s previous quarterly dividend of $0.09.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRMB. Truist Financial assumed coverage on Primo Brands in a report on Friday, April 4th. They issued a “buy” rating and a $42.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. TD Securities assumed coverage on shares of Primo Brands in a research note on Tuesday. They set a “buy” rating and a $48.00 target price on the stock. Finally, BMO Capital Markets began coverage on shares of Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, Primo Brands presently has an average rating of “Buy” and an average target price of $41.50.

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.