Thompson Siegel & Walmsley LLC Invests $2.32 Million in Primo Brands Co. (NYSE:PRMB)

Thompson Siegel & Walmsley LLC bought a new position in Primo Brands Co. (NYSE:PRMB) in the fourth quarter, HoldingsChannel.com reports. The fund bought 75,500 shares of the company’s stock, valued at approximately $2,323,000.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Primo Brands in the 4th quarter worth approximately $28,000. SRS Capital Advisors Inc. acquired a new stake in Primo Brands during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC acquired a new stake in Primo Brands during the 4th quarter valued at $30,000. Blue Trust Inc. acquired a new stake in Primo Brands during the 4th quarter valued at $33,000. Finally, R Squared Ltd acquired a new stake in Primo Brands during the 4th quarter valued at $42,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRMB. Deutsche Bank Aktiengesellschaft raised their price target on Primo Brands from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, February 28th. Royal Bank of Canada raised their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 6th. TD Securities raised their price target on Primo Brands from $40.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 21st. BMO Capital Markets began coverage on Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on Primo Brands from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Brands has an average rating of “Buy” and a consensus target price of $41.40.

Primo Brands Stock Performance

Shares of PRMB opened at $32.03 on Friday. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 0.78 and a beta of 1.10. 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 company has a fifty day moving average price of $32.58. Primo Brands Co. has a 52 week low of $24.41 and a 52 week high of $35.25.

Primo Brands (NYSE:PRMB) last posted its quarterly 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). Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. As a group, research analysts forecast that Primo Brands Co. will post 1.13 EPS for the current year.

Primo Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th 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 is Friday, March 7th. This is an increase from Primo Brands’s previous quarterly dividend of $0.09.

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.