M.D. Sass LLC Acquires 930,295 Shares of Primo Brands Corporation $PRMB

M.D. Sass LLC raised its holdings in Primo Brands Corporation (NYSE:PRMB) by 37.8% in the fourth quarter, Holdings Channel reports. The firm owned 3,394,495 shares of the company’s stock after purchasing an additional 930,295 shares during the period. Primo Brands accounts for 4.4% of M.D. Sass LLC’s investment portfolio, making the stock its 11th largest holding. M.D. Sass LLC’s holdings in Primo Brands were worth $55,500,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Caption Management LLC bought a new position in shares of Primo Brands during the 3rd quarter worth $27,000. LRI Investments LLC grew its stake in shares of Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after acquiring an additional 1,306 shares during the period. GAMMA Investing LLC grew its stake 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 period. EverSource Wealth Advisors LLC grew its stake in shares of Primo Brands by 102.4% during the 2nd 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 period. Finally, US Bancorp DE grew its stake in shares of Primo Brands by 47.2% during the 3rd 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 period. Institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Up 0.5%

Shares of NYSE PRMB opened at $24.60 on Wednesday. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $32.44. The business has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $19.07. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. The company has a market cap of $8.93 billion, a P/E ratio of 175.72, a P/E/G ratio of 2.11 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last issued its 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). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts anticipate that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

Wall Street Analysts Forecast Growth

PRMB has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, March 30th. TD Securities increased their price target on Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. cut their price target on Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Zacks Research upgraded Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Barclays increased their price target on Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Nine 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.com, Primo Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

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.