Primo Brands Corporation (NYSE:PRMB) Stock Has Consensus Price Target of $28.25

Primo Brands Corporation (NYSE:PRMB) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $28.45.

A number of equities research analysts have issued reports on PRMB shares. JPMorgan Chase & Co. boosted their target price on shares of Primo Brands from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Morgan Stanley reiterated an “overweight” rating and issued a $29.00 price target on shares of Primo Brands in a research report on Friday, August 7th. Royal Bank Of Canada boosted their price objective on Primo Brands from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Primo Brands in a report on Friday, August 7th. Finally, TD Cowen restated a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th.

Insider Buying and Selling

In other news, CEO Eric Foss purchased 84,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $23.80 per share, with a total value of $1,999,200.00. Following the acquisition, the chief executive officer directly owned 573,806 shares in the company, valued at approximately $13,656,582.80. This trade represents a 17.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. One Rock Capital Partners LLC purchased a new position in Primo Brands during the fourth quarter worth about $1,900,047,000. Deprince Race & Zollo Inc. increased its stake in Primo Brands by 442.2% in the 1st quarter. Deprince Race & Zollo Inc. now owns 3,833,041 shares of the company’s stock worth $72,176,000 after acquiring an additional 3,126,083 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Primo Brands by 57.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,050,888 shares of the company’s stock valued at $133,050,000 after acquiring an additional 2,585,164 shares in the last quarter. Clearline Capital LP raised its holdings in shares of Primo Brands by 2,871.7% in the 4th quarter. Clearline Capital LP now owns 2,494,348 shares of the company’s stock valued at $40,783,000 after acquiring an additional 2,410,410 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Primo Brands by 41.7% during the 1st quarter. Bank of America Corp DE now owns 6,067,351 shares of the company’s stock valued at $114,248,000 after acquiring an additional 1,785,259 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Brands Price Performance

PRMB opened at $19.33 on Tuesday. The company has a market capitalization of $7.00 billion, a price-to-earnings ratio of 74.36, a PEG ratio of 1.31 and a beta of 0.71. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. The firm has a 50-day moving average price of $21.79 and a 200-day moving average price of $22.18. Primo Brands has a twelve month low of $14.36 and a twelve month high of $26.21.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. Primo Brands’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. Equities analysts expect that Primo Brands will post 1.27 EPS for the current year.

Primo Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were paid a $0.12 dividend. The ex-dividend date was Monday, August 24th. This represents a $0.48 annualized dividend and a yield of 2.5%. Primo Brands’s dividend payout ratio is currently 184.62%.

About Primo Brands

Primo Brands Corporation is a beverage company focused on hydration products and water services. Its offerings include purified, spring and mineral water; enhanced and sparkling water; water dispensers; filtration products; and bottled-water delivery services for homes, businesses and other organizations.

The company markets a broad portfolio of regional and national brands, including Primo, Poland Spring, Deer Park, Arrowhead, Ice Mountain, Ozarka, Pure Life and Splash. Its business combines packaged beverages sold through retail and other distribution channels with direct-to-consumer delivery and water solutions supported by dispensers and filtration systems.

Primo Brands was formed through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.