Brokerages Set Primo Brands Corporation (NYSE:PRMB) PT at $27.25

Shares of Primo Brands Corporation (NYSE:PRMB) have received an average rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $27.25.

A number of brokerages have weighed in on PRMB. Mizuho increased their target price on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Royal Bank Of Canada raised their price objective on shares of Primo Brands to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. lowered their target price on shares of Primo Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, December 18th. Barclays raised their price target on Primo Brands from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings upgraded Primo Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday.

Primo Brands Stock Performance

NYSE:PRMB opened at $17.90 on Friday. The company has a market capitalization of $6.50 billion, a P/E ratio of 119.35, a P/E/G ratio of 1.34 and a beta of 0.61. The business has a fifty day simple moving average of $19.72 and a two-hundred day simple moving average of $19.32. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78. Primo Brands has a 1 year low of $14.36 and a 1 year high of $35.85.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts expect that Primo Brands will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 6th were paid a $0.12 dividend. The ex-dividend date was Friday, March 6th. This represents a $0.48 annualized dividend and a yield of 2.7%. This is an increase from Primo Brands’s previous quarterly dividend of $0.10. Primo Brands’s dividend payout ratio is 266.67%.

Institutional Investors Weigh In On Primo Brands

Several hedge funds and other institutional investors have recently modified their holdings of PRMB. Caption Management LLC bought a new position in shares of Primo Brands in the third quarter valued at approximately $27,000. LRI Investments LLC lifted its stake in Primo Brands by 203.1% in the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after purchasing an additional 1,306 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after purchasing an additional 1,058 shares during the period. Byrne Asset Management LLC purchased a new position in shares of Primo Brands during the 3rd quarter valued at $47,000. Finally, Picton Mahoney Asset Management increased its holdings 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 worth $35,000 after purchasing an additional 850 shares during the period. 87.71% of the stock is currently owned by institutional investors.

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.