Primo Brands Corporation (NYSE:PRMB) Receives $28.25 Average Target Price from Brokerages

Shares of Primo Brands Corporation (NYSE:PRMB) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.25.

Several analysts have recently issued reports on PRMB shares. Royal Bank Of Canada boosted their price target on shares of Primo Brands from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $25.00 price objective on shares of Primo Brands in a research note on Thursday, August 6th. TD boosted their target price on shares of Primo Brands from $29.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $29.00 target price on shares of Primo Brands in a research report on Friday, August 7th.

Insider Activity

In related news, CEO Eric J. Foss acquired 84,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $23.80 per share, with a total value of $1,999,200.00. Following the acquisition, the chief executive officer owned 573,806 shares of the company’s stock, valued at approximately $13,656,582.80. This trade represents a 17.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 32.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Caption Management LLC purchased a new stake in shares of Primo Brands in the third quarter worth about $27,000. LRI Investments LLC boosted its position in shares of Primo Brands by 203.1% in the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after acquiring an additional 1,306 shares during the period. Picton Mahoney Asset Management grew its stake in Primo Brands by 65.2% during the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after acquiring an additional 850 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Primo Brands during the second quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Primo Brands by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock worth $37,000 after acquiring an additional 853 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Trading Up 0.1%

Shares of PRMB opened at $23.15 on Monday. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $26.21. The business has a 50-day moving average of $24.00 and a 200 day moving average of $22.00. The firm has a market cap of $8.39 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.74. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 1.05.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.77 billion. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, research analysts forecast that Primo Brands will post 1.27 EPS for the current year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, August 24th. Primo Brands’s payout ratio is presently 184.62%.

Primo Brands Company Profile

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.