Wealth Enhancement Advisory Services LLC Buys 27,359 Shares of Primo Brands Corporation $PRMB

Wealth Enhancement Advisory Services LLC increased its stake in Primo Brands Corporation (NYSE:PRMB) by 184.8% during the fourth quarter, HoldingsChannel reports. The firm owned 42,163 shares of the company’s stock after acquiring an additional 27,359 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Primo Brands were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PRMB. Caption Management LLC purchased a new position in Primo Brands in the 3rd quarter valued at approximately $27,000. Byrne Asset Management LLC bought a new stake in shares of Primo Brands during the 3rd quarter worth $47,000. 1620 Investment Advisors Inc. bought a new stake in shares of Primo Brands during the 3rd quarter worth $54,000. Blue Trust Inc. bought a new stake in shares of Primo Brands during the 3rd quarter worth $57,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Primo Brands by 76.2% during the 4th quarter. GAMMA Investing LLC now owns 3,540 shares of the company’s stock worth $58,000 after acquiring an additional 1,531 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRMB. JPMorgan Chase & Co. dropped their price objective on Primo Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. Weiss Ratings upgraded shares of Primo Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 23rd. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, March 27th. Finally, Royal Bank Of Canada lifted their price target on shares of Primo Brands to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Primo Brands currently has an average rating of “Moderate Buy” and a consensus target price of $25.45.

Primo Brands Price Performance

Shares of PRMB opened at $19.55 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95. The stock has a market capitalization of $7.10 billion, a PE ratio of 130.30, a PEG ratio of 1.44 and a beta of 0.66. The company has a 50 day moving average price of $19.68 and a 200-day moving average price of $19.00. Primo Brands Corporation has a fifty-two week low of $14.36 and a fifty-two week high of $35.14.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $0.13 EPS. Primo Brands’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts predict that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were paid a $0.12 dividend. The ex-dividend date was Friday, March 6th. This is an increase from Primo Brands’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Primo Brands’s dividend payout ratio (DPR) is currently 266.67%.

About Primo Brands

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.