WINTON GROUP Ltd Makes New Investment in Primo Brands Co. (NYSE:PRMB)

WINTON GROUP Ltd purchased a new stake in Primo Brands Co. (NYSE:PRMB) during the fourth quarter, Holdings Channel.com reports. The firm purchased 25,020 shares of the company’s stock, valued at approximately $770,000.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Primo Brands in the fourth quarter valued at about $28,000. Fulton Bank N.A. bought a new stake in shares of Primo Brands in the 4th quarter valued at about $669,000. Green Alpha Advisors LLC purchased a new position in shares of Primo Brands in the 4th quarter worth approximately $835,000. Procyon Advisors LLC bought a new position in shares of Primo Brands during the 4th quarter worth approximately $553,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Primo Brands during the fourth quarter valued at approximately $176,000. 87.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Primo Brands Stock Performance

Primo Brands stock opened at $35.30 on Friday. Primo Brands Co. has a fifty-two week low of $24.41 and a fifty-two week high of $35.39. The stock has a market cap of $13.42 billion, a P/E ratio of 41.51, a PEG ratio of 0.78 and a beta of 1.10. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $32.88.

Primo Brands (NYSE:PRMB) last issued its quarterly 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). 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 during the quarter, compared to analyst estimates of $1.58 billion. As a group, analysts predict that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given 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 dividend on an annualized basis and a yield of 1.13%.

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.