24,443 Shares in Primo Brands Co. (NYSE:PRMB) Purchased by Taika Capital LP

Taika Capital LP bought a new position in shares of Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,443 shares of the company’s stock, valued at approximately $752,000.

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

Analyst Ratings Changes

Several research firms have weighed in on PRMB. JPMorgan Chase & Co. raised their price target on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. TD Securities lifted their price target on Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. BMO Capital Markets initiated coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Primo Brands presently has an average rating of “Buy” and a consensus target price of $41.40.

Primo Brands Trading Down 2.2 %

PRMB stock opened at $31.65 on Monday. Primo Brands Co. has a 12 month low of $16.36 and a 12 month high of $35.25. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The business’s 50-day moving average price is $32.57. The stock has a market cap of $12.03 billion, a PE ratio of 39.01, a PEG ratio of 0.78 and a beta of 1.10.

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

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $0.10 dividend. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date is Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%.

Primo Brands 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.