Kettle Hill Capital Management LLC Makes New $6.11 Million Investment in Primo Brands Corporation $PRMB

Kettle Hill Capital Management LLC purchased a new position in Primo Brands Corporation (NYSE:PRMB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 373,503 shares of the company’s stock, valued at approximately $6,107,000. Primo Brands comprises about 1.4% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also added to or reduced their stakes in the company. Viking Global Investors LP grew its holdings in Primo Brands by 17.5% in the 3rd quarter. Viking Global Investors LP now owns 23,033,970 shares of the company’s stock worth $509,051,000 after acquiring an additional 3,431,854 shares during the last quarter. Vanguard Group Inc. grew its holdings in Primo Brands by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock worth $376,522,000 after acquiring an additional 1,053,185 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Primo Brands by 189.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock worth $236,333,000 after acquiring an additional 9,461,990 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of Primo Brands by 6.7% during the 4th quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock valued at $206,458,000 after purchasing an additional 793,036 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of Primo Brands by 622.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 6,219,575 shares of the company’s stock valued at $101,690,000 after buying an additional 5,358,687 shares during the period. Institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced 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. Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

Primo Brands Stock Up 1.8%

PRMB opened at $24.59 on Tuesday. 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 firm has a 50 day moving average price of $21.93 and a 200-day moving average price of $19.64. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $30.98. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 175.61, a PEG ratio of 2.08 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts forecast that Primo Brands Corporation will post 1.25 earnings per share for the current year.

Primo Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, June 4th. Primo Brands’s dividend payout ratio is currently 342.86%.

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.