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

Primo Brands Corporation (NYSE:PRMB) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $25.9091.

PRMB has been the topic of several recent research reports. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, March 27th. JPMorgan Chase & Co. dropped their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Barclays lifted their price objective on Primo Brands from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada set a $28.00 price objective on Primo Brands in a research note on Thursday, April 9th.

Primo Brands Stock Performance

PRMB opened at $25.00 on Friday. The stock’s 50 day simple moving average is $23.25 and its 200-day simple moving average is $20.44. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72. The stock has a market cap of $9.07 billion, a PE ratio of 178.58, a P/E/G ratio of 2.15 and a beta of 0.73. Primo Brands has a 1 year low of $14.36 and a 1 year high of $30.98.

Primo Brands (NYSE:PRMB) last issued its 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). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that Primo Brands will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, June 4th. Primo Brands’s dividend payout ratio is 342.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. One Rock Capital Partners LLC bought a new stake in shares of Primo Brands in the 4th quarter worth about $1,900,047,000. Viking Global Investors LP lifted its holdings in Primo Brands by 17.5% during the 3rd quarter. Viking Global Investors LP now owns 23,033,970 shares of the company’s stock valued at $509,051,000 after purchasing an additional 3,431,854 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Primo Brands by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock valued at $376,522,000 after purchasing an additional 1,053,185 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Primo Brands by 189.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock valued at $236,333,000 after acquiring an additional 9,461,990 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Primo Brands by 6.7% in the fourth quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock worth $206,458,000 after purchasing an additional 793,036 shares in the last quarter. 87.71% of the stock is 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.