Sei Investments Co. Boosts Stake in Primo Brands Corporation $PRMB

Sei Investments Co. lifted its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 69.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,090,509 shares of the company’s stock after acquiring an additional 445,636 shares during the period. Sei Investments Co. owned approximately 0.30% of Primo Brands worth $20,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xponance LLC raised its position in Primo Brands by 4.2% during the fourth quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after purchasing an additional 528 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares during the last quarter. Madison Asset Management LLC raised its holdings in shares of Primo Brands by 0.7% during the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock valued at $2,362,000 after buying an additional 943 shares in the last quarter. US Bancorp DE raised its holdings in shares of Primo Brands by 47.2% during the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after buying an additional 945 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after buying an additional 1,058 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PRMB shares. Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Barclays lifted their price target on shares of Primo Brands from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research note on Thursday, April 9th. Finally, Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.36.

Primo Brands Trading Down 2.4%

Shares of PRMB stock opened at $22.98 on Thursday. The business has a 50-day moving average of $24.05 and a 200 day moving average of $21.41. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $28.48. The stock has a market capitalization of $8.34 billion, a PE ratio of 164.15, a P/E/G ratio of 1.99 and a beta of 0.73.

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

Primo Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 24th. Primo Brands’s payout ratio is presently 342.86%.

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.