Primo Brands (NYSE:PRMB) Stock Gets Price Target Trim from Morgan Stanley

Primo Brands (NYSE:PRMB) had its price target decreased by Morgan Stanley from $29.00 to $28.00 in a research note released on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

PRMB has been the subject of a number of other reports. TD Cowen restated a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th. Zacks Research lowered Primo Brands from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. TD increased their price target on Primo Brands from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of Primo Brands in a report on Wednesday, November 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Primo Brands in a report on Wednesday, November 4th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.82.

Primo Brands Trading Down 0.2%

NYSE PRMB opened at $24.01 on Monday. Primo Brands has a one year low of $14.80 and a one year high of $26.21. The company has a 50-day simple moving average of $20.37 and a 200-day simple moving average of $21.53. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market capitalization of $8.68 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.98 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. Primo Brands had a net margin of 3.06% and a return on equity of 14.55%. Primo Brands’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, equities analysts forecast that Primo Brands will post 1.27 earnings per share for the current year.

Primo Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 24th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Primo Brands’s dividend payout ratio is currently 85.71%.

Institutional Trading of Primo Brands

A number of large investors have recently modified their holdings of PRMB. Rothschild Investment LLC lifted its position in Primo Brands by 382.9% in the 3rd quarter. Rothschild Investment LLC now owns 1,386 shares of the company’s stock valued at $26,000 after purchasing an additional 1,099 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in Primo Brands during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC boosted its stake in Primo Brands by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock valued at $37,000 after purchasing an additional 853 shares during the period. CX Institutional acquired a new position in Primo Brands during the 3rd quarter valued at about $38,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Primo Brands in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Company Profile

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses. The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses. Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.