Primo Brands Corporation $PRMB Shares Purchased by State of Wyoming

State of Wyoming increased its holdings in shares of Primo Brands Corporation (NYSE:PRMB) by 515.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,070 shares of the company’s stock after acquiring an additional 26,855 shares during the quarter. State of Wyoming’s holdings in Primo Brands were worth $524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caption Management LLC acquired a new stake in Primo Brands during the third quarter worth about $27,000. LRI Investments LLC raised its stake in Primo Brands by 203.1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after acquiring an additional 1,306 shares during the period. EverSource Wealth Advisors LLC raised its stake in Primo Brands by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after acquiring an additional 1,058 shares during the period. US Bancorp DE raised its stake in Primo Brands by 47.2% during the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock worth $65,000 after acquiring an additional 945 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Primo Brands during the third quarter worth about $74,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Price Performance

Shares of NYSE:PRMB opened at $22.94 on Friday. The firm’s 50 day moving average is $21.32 and its two-hundred day moving average is $19.26. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $31.49. The firm has a market capitalization of $8.33 billion, a P/E ratio of 163.88, a PEG ratio of 1.98 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72.

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

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is currently 342.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research note on Thursday, April 9th. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Primo Brands presently has a consensus rating of “Moderate Buy” and a consensus price target 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.