60,500 Shares in Primo Brands Co. (NYSE:PRMB) Bought by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. acquired a new position in Primo Brands Co. (NYSE:PRMB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 60,500 shares of the company’s stock, valued at approximately $1,862,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new position in shares of Primo Brands in the 4th quarter worth about $343,451,000. Signaturefd LLC purchased a new stake in Primo Brands in the fourth quarter worth about $83,000. Cibc World Markets Corp bought a new position in shares of Primo Brands during the fourth quarter valued at approximately $455,000. Gitterman Wealth Management LLC purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $471,000. Finally, Royce & Associates LP bought a new stake in shares of Primo Brands in the 4th quarter worth approximately $7,273,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analysts Set New Price Targets

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

Primo Brands Stock Performance

PRMB opened at $31.93 on Thursday. The company’s 50-day moving average is $32.61. Primo Brands Co. has a 52-week low of $24.41 and a 52-week high of $35.25. The company has a market cap of $12.14 billion, a PE ratio of 38.89, a P/E/G ratio of 0.78 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Primo Brands (NYSE:PRMB) last issued its 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 analysts’ expectations of $1.58 billion. Research analysts forecast that Primo Brands Co. will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. This is a positive change 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.