Primo Brands Corporation $PRMB Shares Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in Primo Brands Corporation (NYSE:PRMB) by 91.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 482,493 shares of the company’s stock after purchasing an additional 230,494 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Primo Brands were worth $9,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Caption Management LLC purchased a new position in shares of Primo Brands in the third quarter worth about $27,000. LRI Investments LLC grew its stake in Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after acquiring an additional 1,306 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after acquiring an additional 1,058 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after purchasing an additional 850 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of Primo Brands by 21,481.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after purchasing an additional 2,363 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Price Performance

PRMB opened at $25.00 on Friday. The stock’s 50-day moving average price is $23.15 and its 200 day moving average price is $20.41. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $30.98. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 178.58, a PEG ratio of 2.11 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last issued 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). The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 EPS. As a group, sell-side analysts expect that Primo Brands Corporation will post 1.25 earnings per share for the current year.

Primo Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were issued a $0.12 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. Primo Brands’s dividend payout ratio is presently 342.86%.

Analyst Ratings Changes

PRMB has been the topic of a number of recent research reports. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Jefferies Financial Group upgraded Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, March 27th. JPMorgan Chase & Co. lowered their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Finally, Barclays raised their price objective on shares of Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

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.