Primo Brands Corporation (NYSE:PRMB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Primo Brands Corporation (NYSE:PRMB) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $25.9091.

PRMB has been the topic of several recent analyst reports. Barclays lifted their price target on Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Jefferies Financial Group raised 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. TD Securities lifted their price target on Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Royal Bank Of Canada set a $28.00 price target on Primo Brands in a research report on Thursday, April 9th.

Primo Brands Stock Performance

Shares of NYSE PRMB opened at $24.60 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. The business’s 50 day moving average is $20.90 and its two-hundred day moving average is $19.07. The company has a market cap of $8.93 billion, a P/E ratio of 175.72, a P/E/G ratio of 2.11 and a beta of 0.72. Primo Brands has a 12 month low of $14.36 and a 12 month high of $32.44.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts expect that Primo Brands will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio is presently 342.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Xponance LLC raised its stake in shares of Primo Brands by 4.2% in the fourth quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after purchasing an additional 528 shares in the last quarter. Picton Mahoney Asset Management raised its stake in shares of Primo Brands by 65.2% in the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Primo Brands by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $37,000 after purchasing an additional 853 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of Primo Brands by 0.7% in the fourth quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock valued at $2,362,000 after purchasing an additional 943 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Primo Brands by 47.2% in the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after purchasing an additional 945 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.