21,930 Shares in Primo Brands Corporation $PRMB Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC bought a new position in Primo Brands Corporation (NYSE:PRMB) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,930 shares of the company’s stock, valued at approximately $413,000.

Several other institutional investors also recently bought and sold shares of the business. Caption Management LLC acquired a new stake in shares of Primo Brands during the third quarter worth $27,000. LRI Investments LLC grew its position in shares of Primo Brands by 203.1% in the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after purchasing an additional 1,306 shares during the period. Picton Mahoney Asset Management increased its stake in Primo Brands by 65.2% in the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares during the last quarter. Quarry LP increased its stake in Primo Brands by 516.6% in the fourth quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after purchasing an additional 1,994 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Primo Brands by 21,481.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock valued at $39,000 after purchasing an additional 2,363 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRMB. Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Barclays raised their target price 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. Finally, Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Friday, March 27th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.18.

Primo Brands Trading Up 1.7%

Shares of PRMB opened at $25.36 on Friday. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $29.23. The firm has a market capitalization of $9.20 billion, a P/E ratio of 181.13, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73. 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 stock’s fifty day simple moving average is $24.00 and its 200 day simple moving average is $20.97.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.63 billion for 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%. Primo Brands’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. On average, 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. Investors of record on Thursday, June 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 4th. Primo Brands’s dividend payout ratio is 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.