Neumeier Poma Investment Counsel LLC Has $22.12 Million Stock Holdings in Primo Brands Corporation $PRMB

Neumeier Poma Investment Counsel LLC boosted its position in Primo Brands Corporation (NYSE:PRMB) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,956 shares of the company’s stock after purchasing an additional 26,410 shares during the quarter. Neumeier Poma Investment Counsel LLC’s holdings in Primo Brands were worth $22,121,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PRMB. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Primo Brands in the 2nd quarter valued at about $26,000. Byrne Asset Management LLC acquired a new stake in shares of Primo Brands in the third quarter valued at approximately $47,000. 1620 Investment Advisors Inc. bought a new stake in shares of Primo Brands in the third quarter valued at approximately $54,000. Blue Trust Inc. bought a new stake in shares of Primo Brands in the third quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 1,058 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PRMB shares. JPMorgan Chase & Co. reduced their target price on Primo Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, December 18th. TD Securities reduced their price objective on shares of Primo Brands from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Barclays decreased their target price on shares of Primo Brands from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. BMO Capital Markets restated an “outperform” rating and issued a $35.00 target price on shares of Primo Brands in a research report on Friday, January 23rd. Finally, Zacks Research lowered shares of Primo Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Primo Brands Price Performance

Shares of PRMB opened at $19.58 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 1.59. The stock has a market cap of $7.25 billion, a PE ratio of -63.14, a PEG ratio of 0.70 and a beta of 0.63. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $35.85. The business has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $19.88.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Primo Brands had a positive return on equity of 12.52% and a negative net margin of 1.30%. Analysts anticipate that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a $0.12 dividend. The ex-dividend date is 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 yield of 2.5%. Primo Brands’s dividend payout ratio is presently -129.03%.

Primo Brands announced that its Board of Directors has approved a stock repurchase program on Monday, November 10th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.