178,497 Shares in Primo Brands Co. (NYSE:PRMB) Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP bought a new position in shares of Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 178,497 shares of the company’s stock, valued at approximately $5,492,000. Primo Brands makes up about 1.3% of Advantage Alpha Capital Partners LP’s holdings, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Green Alpha Advisors LLC bought a new position in Primo Brands during the fourth quarter worth about $835,000. Fulton Bank N.A. purchased a new position in Primo Brands in the 4th quarter worth approximately $669,000. Allspring Global Investments Holdings LLC purchased a new stake in Primo Brands during the fourth quarter valued at about $111,169,000. Robeco Institutional Asset Management B.V. bought a new stake in Primo Brands in the 4th quarter worth approximately $4,350,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Primo Brands during the fourth quarter valued at about $252,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Up 0.1 %

PRMB opened at $32.43 on Monday. 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 business’s fifty day moving average price is $32.68. The stock has a market cap of $12.33 billion, a P/E ratio of 38.89, a P/E/G ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a 52 week low of $24.41 and a 52 week high of $39.23.

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). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Equities analysts anticipate that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The company also recently announced 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 is a positive change from Primo Brands’s previous quarterly dividend of $0.09. 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an “outperform” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. boosted 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 lifted their target price on Primo Brands from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Primo Brands from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada upped their price target 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $41.40.

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.