Primo Brands Corporation $PRMB Shares Sold by Siren L.L.C.

Siren L.L.C. cut its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 33.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after selling 25,000 shares during the quarter. Siren L.L.C.’s holdings in Primo Brands were worth $942,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PRMB. Dynamic Technology Lab Private Ltd acquired a new position in shares of Primo Brands in the 1st quarter valued at $229,000. Caxton Associates LLP acquired a new stake in Primo Brands during the 1st quarter worth about $266,000. American Century Companies Inc. lifted its position in Primo Brands by 9.3% during the 2nd quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock worth $806,000 after acquiring an additional 2,318 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Primo Brands by 797.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after purchasing an additional 48,509 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Primo Brands by 29.1% in the second quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock valued at $8,931,000 after purchasing an additional 67,930 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Stock Performance

Shares of PRMB stock opened at $22.74 on Friday. Primo Brands Corporation has a 52-week low of $14.36 and a 52-week high of $29.02. 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 stock has a market cap of $8.25 billion, a PE ratio of 162.42, a price-to-earnings-growth ratio of 2.04 and a beta of 0.73. The business has a 50-day simple moving average of $24.04 and a 200-day simple moving average of $21.24.

Primo Brands (NYSE:PRMB) last posted 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). The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The firm’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. On average, equities analysts expect that Primo Brands Corporation will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, June 4th. Primo Brands’s dividend payout ratio is currently 342.86%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PRMB. Royal Bank Of Canada set a $28.00 price objective on Primo Brands in a research note on Thursday, April 9th. Weiss Ratings upgraded Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Jefferies Financial Group raised shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.36.

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.