Lingotto Investment Management LLP Purchases New Shares in Primo Brands Corporation $PRMB

Lingotto Investment Management LLP purchased a new stake in Primo Brands Corporation (NYSE:PRMB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 179,200 shares of the company’s stock, valued at approximately $2,930,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRMB. Dynamic Technology Lab Private Ltd purchased a new stake in Primo Brands in the 1st quarter valued at $229,000. Caxton Associates LLP purchased a new stake in Primo Brands in the 1st quarter valued at $266,000. American Century Companies Inc. raised its position in Primo Brands by 9.3% in the 2nd quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock valued at $806,000 after purchasing an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Primo Brands by 797.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after purchasing an additional 48,509 shares during the last quarter. Finally, Invesco Ltd. raised its position in Primo Brands by 29.1% in the 2nd quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock valued at $8,931,000 after purchasing an additional 67,930 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Performance

NYSE:PRMB opened at $24.52 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. Primo Brands Corporation has a fifty-two week low of $14.36 and a fifty-two week high of $33.04. The stock has a market cap of $8.90 billion, a PE ratio of 175.11, a price-to-earnings-growth ratio of 2.13 and a beta of 0.66. The firm’s fifty day simple moving average is $20.90 and its 200-day simple moving average is $19.07.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts expect that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Primo Brands’s dividend payout ratio is 342.86%.

Wall Street Analyst Weigh In

PRMB has been the subject of several research reports. Mizuho upped their price target on shares of Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. cut their price objective on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, TD Securities upped their price objective on shares of Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.91.

Primo Brands Company Profile

Primo Brands (NYSE: PRMB) is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.