79,500 Shares in Primo Brands Co. (NYSE:PRMB) Purchased by Tacita Capital Inc

Tacita Capital Inc bought a new position in shares of Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 79,500 shares of the company’s stock, valued at approximately $2,446,000. Primo Brands accounts for approximately 1.7% of Tacita Capital Inc’s portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Primo Brands in the 4th quarter valued at $28,000. SRS Capital Advisors Inc. acquired a new stake in Primo Brands during the 4th quarter worth about $30,000. Blue Trust Inc. acquired a new stake in Primo Brands during the 4th quarter worth about $33,000. R Squared Ltd acquired a new stake in Primo Brands during the 4th quarter worth about $42,000. Finally, Amalgamated Bank acquired a new stake in Primo Brands during the 4th quarter worth about $166,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analysts Set New Price Targets

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

Primo Brands Stock Down 1.3 %

Shares of NYSE PRMB opened at $33.26 on Tuesday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The stock has a 50 day simple moving average of $32.41. The company has a market cap of $12.62 billion, a P/E ratio of 40.77, a P/E/G ratio of 0.78 and a beta of 1.10. Primo Brands Co. has a 12 month low of $16.09 and a 12 month high of $35.25.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS 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 the consensus estimate of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Sell-side analysts expect that Primo Brands Co. will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a $0.10 dividend. This is an increase from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, March 7th.

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.