Primo Brands Corporation (NYSE:PRMB) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Primo Brands Corporation (NYSE:PRMB) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $28.45.

PRMB has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on shares of Primo Brands from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Primo Brands in a research report on Friday, August 7th. TD boosted their price target on Primo Brands from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Primo Brands in a report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $25.00 price objective on shares of Primo Brands in a research note on Thursday, August 6th.

Primo Brands Stock Performance

Shares of NYSE PRMB opened at $19.25 on Tuesday. The company has a 50-day simple moving average of $21.72 and a 200-day simple moving average of $22.16. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86. Primo Brands has a 12 month low of $14.36 and a 12 month high of $26.21. The company has a market cap of $6.98 billion, a PE ratio of 74.04, a price-to-earnings-growth ratio of 1.32 and a beta of 0.71.

Primo Brands (NYSE:PRMB) last announced its earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. On average, equities analysts anticipate that Primo Brands will post 1.27 earnings per share for the current year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 24th. Primo Brands’s payout ratio is currently 184.62%.

Insider Activity

In related news, CEO Eric Foss purchased 84,000 shares of Primo Brands stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $23.80 per share, for a total transaction of $1,999,200.00. Following the transaction, the chief executive officer directly owned 573,806 shares in the company, valued at approximately $13,656,582.80. This represents a 17.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 32.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primo Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRMB. Artemis Investment Management LLP acquired a new position in Primo Brands during the third quarter worth approximately $12,199,000. CX Institutional acquired a new stake in shares of Primo Brands during the 3rd quarter valued at $38,000. Tidal Investments LLC increased its stake in shares of Primo Brands by 226.7% in the second quarter. Tidal Investments LLC now owns 1,150,675 shares of the company’s stock valued at $28,122,000 after buying an additional 798,488 shares during the period. WINTON GROUP Ltd raised its position in Primo Brands by 32.0% during the 2nd quarter. WINTON GROUP Ltd now owns 163,916 shares of the company’s stock worth $4,006,000 after purchasing an additional 39,711 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Primo Brands in the second quarter worth approximately $1,063,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Primo Brands

Primo Brands Corporation is a beverage company focused on hydration products and water services. Its offerings include purified, spring and mineral water; enhanced and sparkling water; water dispensers; filtration products; and bottled-water delivery services for homes, businesses and other organizations.

The company markets a broad portfolio of regional and national brands, including Primo, Poland Spring, Deer Park, Arrowhead, Ice Mountain, Ozarka, Pure Life and Splash. Its business combines packaged beverages sold through retail and other distribution channels with direct-to-consumer delivery and water solutions supported by dispensers and filtration systems.

Primo Brands was formed through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.