Signaturefd LLC Acquires New Stake in Primo Brands Co. (NYSE:PRMB)

Signaturefd LLC acquired a new stake in Primo Brands Co. (NYSE:PRMB) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,688 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cibc World Markets Corp purchased a new position in shares of Primo Brands during the fourth quarter worth approximately $455,000. Gitterman Wealth Management LLC bought a new stake in Primo Brands during the 4th quarter valued at $471,000. Royce & Associates LP purchased a new stake in shares of Primo Brands in the 4th quarter worth $7,273,000. Natixis Advisors LLC bought a new position in shares of Primo Brands during the 4th quarter worth $770,000. Finally, Clearstead Trust LLC purchased a new position in shares of Primo Brands during the fourth quarter valued at $154,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Trading Down 0.9 %

NYSE PRMB opened at $32.01 on Tuesday. The business has a fifty day moving average price of $32.70. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Brands Co. has a 12-month low of $24.41 and a 12-month high of $35.25.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.08). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a negative net margin of 2.74% and a positive return on equity of 10.27%. As a group, sell-side analysts predict that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were paid a $0.10 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%.

Analyst Ratings Changes

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