Boston Partners Makes New $2.27 Million Investment in Primo Brands Co. (NYSE:PRMB)

Boston Partners purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 73,277 shares of the company’s stock, valued at approximately $2,274,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC bought a new position in Primo Brands in the 4th quarter valued at about $28,000. Fulton Bank N.A. acquired a new stake in shares of Primo Brands in the 4th quarter worth approximately $669,000. Green Alpha Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $835,000. Procyon Advisors LLC acquired a new position in shares of Primo Brands during the fourth quarter valued at approximately $553,000. Finally, Nisa Investment Advisors LLC bought a new stake in Primo Brands during the fourth quarter worth approximately $176,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Trading Up 0.1 %

Shares of PRMB opened at $32.43 on Friday. The business has a 50-day moving average of $32.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The stock has a market cap of $12.33 billion, a PE ratio of 38.89, a P/E/G ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a 1-year low of $24.41 and a 1-year high of $35.25.

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

Primo Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Primo Brands’s previous quarterly dividend of $0.09.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PRMB shares. TD Securities increased their price target on Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada raised their target price on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. BMO Capital Markets began coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Primo Brands from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Primo Brands presently has a consensus rating of “Buy” and an average price target of $41.40.

Primo Brands 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.