25,020 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 25,020 shares of the company’s stock, valued at approximately $770,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PRMB. Vanguard Group Inc. purchased a new stake in shares of Primo Brands during the 4th quarter worth approximately $471,249,000. William Blair Investment Management LLC bought a new position in Primo Brands during the fourth quarter valued at $343,451,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Primo Brands in the 4th quarter worth $111,169,000. KBC Group NV bought a new stake in shares of Primo Brands in the 4th quarter worth about $49,585,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Primo Brands during the 4th quarter valued at about $40,563,000. Institutional investors own 87.71% of the company’s stock.

Primo Brands Price Performance

PRMB stock opened at $35.30 on Friday. Primo Brands Co. has a 12 month low of $24.41 and a 12 month high of $35.39. The business has a 50-day moving average of $32.88. The stock has a market cap of $13.42 billion, a P/E ratio of 41.51, a PEG ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Primo Brands (NYSE:PRMB) last posted its quarterly 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). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. Sell-side analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a dividend of $0.10 per share. This is an increase from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date was Friday, March 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. BMO Capital Markets initiated coverage on shares of Primo Brands in a research note on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, TD Securities increased their price objective 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $41.40.

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.