WINTON GROUP Ltd Grows Stock Holdings in Primo Brands Corporation $PRMB

WINTON GROUP Ltd raised its holdings in Primo Brands Corporation (NYSE:PRMB) by 32.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 163,916 shares of the company’s stock after acquiring an additional 39,711 shares during the period. WINTON GROUP Ltd’s holdings in Primo Brands were worth $4,006,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new stake in shares of Primo Brands during the second quarter worth $1,063,000. Integrated Wealth Concepts LLC acquired a new position in Primo Brands in the second quarter valued at $180,000. IFP Advisors Inc lifted its position in Primo Brands by 64.4% during the second quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock worth $75,000 after buying an additional 1,202 shares during the period. Squarepoint Ops LLC lifted its position in Primo Brands by 62.0% during the second quarter. Squarepoint Ops LLC now owns 761,563 shares of the company’s stock worth $18,613,000 after buying an additional 291,412 shares during the period. Finally, Nykredit A S purchased a new position in Primo Brands during the second quarter worth about $94,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Performance

Shares of PRMB opened at $20.55 on Friday. Primo Brands Corporation has a 52-week low of $14.36 and a 52-week high of $26.21. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 79.04, a PEG ratio of 1.43 and a beta of 0.73. The business’s 50 day moving average is $23.40 and its two-hundred day moving average is $22.33.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.77 billion. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Analysts forecast that Primo Brands Corporation will post 1.27 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 24th. Primo Brands’s payout ratio is currently 184.62%.

Insider Activity at Primo Brands

In other Primo Brands news, CEO Eric Foss acquired 84,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $23.80 per share, with a total value of $1,999,200.00. Following the transaction, the chief executive officer directly owned 573,806 shares in the company, valued at approximately $13,656,582.80. This represents a 17.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 32.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PRMB shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $25.00 price target on shares of Primo Brands in a report on Thursday, August 6th. Barclays raised their target price on shares of Primo Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Royal Bank Of Canada increased their price target on shares of Primo Brands from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Primo Brands from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.25.

Primo Brands Profile

Primo Brands Corporation (NYSE: PRMB) is a North American beverage company focused on providing bottled water, water dispensers, water filtration products and related hydration services. Its offerings include spring, purified and mineral water, as well as refillable and reusable water solutions for households, businesses and other organizations.

The company sells its products through retail, direct delivery and exchange programs, including home and office delivery and services connected with water dispensers.