United Capital Financial Advisors LLC Makes New Investment in Primo Brands Co. (NYSE:PRMB)

United Capital Financial Advisors LLC acquired a new stake in Primo Brands Co. (NYSE:PRMB) in the 4th quarter, HoldingsChannel reports. The fund acquired 6,746 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Primo Brands in the 4th quarter valued at about $28,000. SRS Capital Advisors Inc. acquired a new stake in Primo Brands in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC purchased a new position in Primo Brands in the fourth quarter worth approximately $30,000. Blue Trust Inc. acquired a new position in Primo Brands during the 4th quarter worth approximately $33,000. Finally, R Squared Ltd purchased a new stake in shares of Primo Brands in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

PRMB has been the subject of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their target price 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 started coverage on Primo Brands in a report on Tuesday, April 8th. They issued a “buy” rating and a $48.00 price target for the company. Truist Financial started coverage on shares of Primo Brands in a report on Friday, April 4th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, BMO Capital Markets initiated coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Primo Brands currently has a consensus rating of “Buy” and an average target price of $41.50.

Primo Brands Trading Up 2.3 %

PRMB stock opened at $32.95 on Wednesday. The company has a 50 day moving average price of $33.16. The firm has a market capitalization of $12.52 billion, a P/E ratio of 39.87, a P/E/G ratio of 0.78 and a beta of 0.82. Primo Brands Co. has a twelve month low of $24.41 and a twelve month high of $35.85. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.08). Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Research analysts predict that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, March 7th. This is an increase from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.21%.

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.