TD Waterhouse Canada Inc. Takes Position in Primo Brands Co. (NYSE:PRMB)

TD Waterhouse Canada Inc. acquired a new position in Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the company’s stock, valued at approximately $62,000.

Other large investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Primo Brands during the 4th quarter valued at about $28,000. SRS Capital Advisors Inc. bought a new stake in Primo Brands during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC purchased a new position in Primo Brands in the 4th quarter worth approximately $30,000. Blue Trust Inc. bought a new position in shares of Primo Brands in the 4th quarter worth $33,000. Finally, R Squared Ltd purchased a new stake in shares of Primo Brands during the 4th quarter valued at $42,000. Institutional investors own 87.71% of the company’s stock.

Analysts Set New Price Targets

PRMB has been the subject of several research reports. TD Securities assumed coverage on shares of Primo Brands in a research report on Tuesday, April 8th. They issued a “buy” rating and a $48.00 target price for the company. BMO Capital Markets assumed coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Truist Financial started coverage on shares of Primo Brands in a research note on Friday, April 4th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Royal Bank of Canada boosted their price target on shares of Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Primo Brands has a consensus rating of “Buy” and an average target price of $41.50.

Primo Brands Trading Down 0.1 %

PRMB stock opened at $32.41 on Monday. The stock has a market capitalization of $12.32 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a 50-day moving average price of $33.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Brands Co. has a 12-month low of $24.41 and a 12-month high of $35.85.

Primo Brands (NYSE:PRMB) last announced its quarterly 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 negative net margin of 2.74% and a positive return on equity of 10.27%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Equities analysts predict that Primo Brands Co. will post 1.13 EPS for the current 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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Primo Brands’s previous quarterly dividend of $0.09.

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.