Tidal Investments LLC Increases Stock Holdings in Primo Brands Corporation $PRMB

Tidal Investments LLC boosted its holdings in shares of Primo Brands Corporation (NYSE:PRMB) by 226.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,150,675 shares of the company’s stock after acquiring an additional 798,488 shares during the period. Tidal Investments LLC’s holdings in Primo Brands were worth $28,122,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caption Management LLC acquired a new stake in Primo Brands during the 3rd quarter valued at $27,000. Picton Mahoney Asset Management lifted its holdings in Primo Brands by 65.2% in 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 in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Primo Brands in the second quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Primo Brands by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock worth $37,000 after purchasing an additional 853 shares during the last quarter. Finally, Quarry LP boosted its stake in Primo Brands by 516.6% in the 4th quarter. Quarry LP now owns 2,380 shares of the company’s stock worth $39,000 after buying an additional 1,994 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Primo Brands

In other Primo Brands news, CEO Eric Foss bought 84,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $23.80 per share, with a total value of $1,999,200.00. Following the purchase, the chief executive officer owned 573,806 shares in the company, valued at approximately $13,656,582.80. The trade was a 17.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 32.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. TD upped their price target on shares of Primo Brands from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Primo Brands in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Primo Brands from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $25.00 price objective on shares of Primo Brands in a research note on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.25.

Primo Brands Stock Performance

NYSE PRMB opened at $20.90 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $26.21. The firm has a market capitalization of $7.57 billion, a P/E ratio of 80.40, a P/E/G ratio of 1.51 and a beta of 0.73. The business’s 50-day simple moving average is $23.49 and its 200-day simple moving average is $22.31.

Primo Brands (NYSE:PRMB) last posted its earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. Equities analysts predict that Primo Brands Corporation will post 1.27 EPS for the current year.

Primo Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. Primo Brands’s dividend payout ratio is presently 184.62%.

Primo Brands 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.