79,500 Shares in Primo Brands Co. (NYSE:PRMB) Bought by Tacita Capital Inc

Tacita Capital Inc purchased a new position in Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 79,500 shares of the company’s stock, valued at approximately $2,446,000. Primo Brands comprises about 1.7% of Tacita Capital Inc’s holdings, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Green Alpha Advisors LLC bought a new stake in shares of Primo Brands in the fourth quarter worth $835,000. Fulton Bank N.A. bought a new stake in shares of Primo Brands in the fourth quarter worth $669,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Primo Brands in the fourth quarter worth $111,169,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Primo Brands in the fourth quarter worth $4,350,000. Finally, Drive Wealth Management LLC bought a new stake in Primo Brands during the fourth quarter valued at $241,000. Institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

PRMB has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. BMO Capital Markets initiated coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. TD Securities raised their price target on shares of Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada raised 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. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $41.40.

Primo Brands Stock Down 1.3 %

PRMB stock opened at $33.26 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Brands Co. has a fifty-two week low of $16.09 and a fifty-two week high of $35.25. The business has a 50-day moving average price of $32.41. The firm has a market cap of $12.62 billion, a PE ratio of 40.77, a PEG ratio of 0.78 and a beta of 1.10.

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

Primo Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 7th.

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.