38,888 Shares in Primo Brands Co. (NYSE:PRMB) Bought by Axa S.A.

Axa S.A. acquired a new stake in shares of Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 38,888 shares of the company’s stock, valued at approximately $1,197,000.

Other hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. bought a new position in Primo Brands during the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at $30,000. Blue Trust Inc. purchased a new stake in Primo Brands during the fourth quarter valued at about $33,000. R Squared Ltd bought a new position in Primo Brands in the 4th quarter worth approximately $42,000. Finally, Federated Hermes Inc. bought a new position in shares of Primo Brands in the fourth quarter worth $55,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Stock Performance

PRMB stock opened at $31.95 on Friday. The firm has a 50-day moving average price of $32.95. The company has a market capitalization of $12.15 billion, a P/E ratio of 39.82, a price-to-earnings-growth ratio of 0.78 and a beta of 0.83. Primo Brands Co. has a fifty-two week low of $24.41 and a fifty-two week high of $35.85. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. Equities analysts predict that Primo Brands Co. will post 1.13 earnings per share for the current year.

Primo Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Friday, June 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, June 6th.

Wall Street Analyst Weigh In

PRMB has been the topic of a number of recent analyst reports. Truist Financial assumed coverage on shares of Primo Brands in a report on Friday, April 4th. They issued a “buy” rating and a $42.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Primo Brands from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, TD Securities began coverage on Primo Brands in a research report on Tuesday, April 8th. They set a “buy” rating and a $48.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Primo Brands has an average rating of “Buy” and a consensus price target of $41.50.

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.