Primo Brands Corporation $PRMB Position Lifted by Pertento Partners LLP

Pertento Partners LLP raised its position in shares of Primo Brands Corporation (NYSE:PRMB) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,818,495 shares of the company’s stock after acquiring an additional 155,836 shares during the quarter. Primo Brands makes up about 7.2% of Pertento Partners LLP’s holdings, making the stock its 5th largest holding. Pertento Partners LLP owned 0.76% of Primo Brands worth $62,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Advisor Solutions LLC lifted its holdings in Primo Brands by 1.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 47,067 shares of the company’s stock valued at $1,040,000 after purchasing an additional 567 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Primo Brands in the second quarter worth about $26,000. US Bancorp DE boosted its position 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 last quarter. EverSource Wealth Advisors LLC boosted its position 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 last quarter. Finally, Phoenix Financial Ltd. grew its stake in Primo Brands by 14.6% during the 3rd quarter. Phoenix Financial Ltd. now owns 10,151 shares of the company’s stock valued at $224,000 after acquiring an additional 1,292 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Securities raised their target price on shares of Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Mizuho upped their price target on Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. Royal Bank Of Canada lifted their price objective on Primo Brands to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Morgan Stanley reissued an “overweight” rating on shares of Primo Brands in a research note on Monday, January 5th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Primo Brands in a report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.25.

Primo Brands Trading Down 1.8%

PRMB opened at $21.00 on Thursday. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $35.85. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 1.70. The business has a fifty day simple moving average of $19.28 and a 200-day simple moving average of $19.71. The firm has a market cap of $7.63 billion, a P/E ratio of 140.01, a P/E/G ratio of 1.55 and a beta of 0.61.

Primo Brands (NYSE:PRMB) last posted its earnings results on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.Primo Brands’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities analysts expect that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a dividend of $0.12 per share. This is a boost from Primo Brands’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Primo Brands’s dividend payout ratio is currently 266.67%.

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.