Vontobel Holding Ltd. Purchases Shares of 7,684 Primo Brands Co. (NYSE:PRMB)

Vontobel Holding Ltd. purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,684 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also added to or reduced their stakes in PRMB. Rise Advisors LLC acquired a new stake in shares of Primo Brands during the fourth quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Primo Brands during the fourth quarter worth $42,000. Nisa Investment Advisors LLC acquired a new stake in shares of Primo Brands during the fourth quarter worth $176,000. Entropy Technologies LP acquired a new stake in shares of Primo Brands during the fourth quarter worth $236,000. Finally, Drive Wealth Management LLC acquired a new stake in shares of Primo Brands during the fourth quarter worth $241,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PRMB shares. BMO Capital Markets started coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft started coverage on Primo Brands in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 price target on the stock. TD Securities raised their price target on Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada raised their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Brands presently has an average rating of “Buy” and a consensus price target of $40.00.

Primo Brands Stock Up 4.3 %

Primo Brands stock opened at $34.00 on Friday. Primo Brands Co. has a 12-month low of $14.10 and a 12-month high of $34.53. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a 50-day simple moving average of $32.10. The company has a market capitalization of $12.89 billion, a PE ratio of 21.11, a PEG ratio of 0.79 and a beta of 1.10.

Primo Brands (NYSE:PRMB) last released its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). Primo Brands had a net margin of 13.63% and a return on equity of 8.80%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, analysts expect that Primo Brands Co. will post 0.91 earnings per share for the current year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Primo Brands’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, March 7th. Primo Brands’s dividend payout ratio (DPR) is presently 27.95%.

About Primo Brands

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.