Primo Brands Corporation $PRMB Stock Holdings Boosted by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its stake in Primo Brands Corporation (NYSE:PRMB) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 201,571 shares of the company’s stock after purchasing an additional 26,436 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.06% of Primo Brands worth $3,840,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in Primo Brands by 57.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,050,888 shares of the company’s stock worth $133,050,000 after buying an additional 2,585,164 shares during the last quarter. Bank of America Corp DE boosted its stake in Primo Brands by 41.7% during the first quarter. Bank of America Corp DE now owns 6,067,351 shares of the company’s stock worth $114,248,000 after buying an additional 1,785,259 shares during the period. KBC Group NV increased its position in Primo Brands by 49.2% during the first quarter. KBC Group NV now owns 5,041,625 shares of the company’s stock valued at $94,934,000 after acquiring an additional 1,661,569 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Primo Brands by 2,881.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,954,180 shares of the company’s stock valued at $37,227,000 after acquiring an additional 1,888,636 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Primo Brands by 226.7% during the second quarter. Tidal Investments LLC now owns 1,150,675 shares of the company’s stock valued at $28,122,000 after acquiring an additional 798,488 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Primo Brands from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Monday. TD lifted their price target on shares of Primo Brands from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $21.00 price target on shares of Primo Brands in a report on Monday, October 19th. Royal Bank Of Canada reissued an “outperform” rating on shares of Primo Brands in a research report on Wednesday, November 4th. Finally, TD Cowen reissued a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.82.

Primo Brands Stock Performance

Shares of Primo Brands stock opened at $24.03 on Wednesday. The stock’s fifty day moving average is $20.35 and its two-hundred day moving average is $21.51. The company has a market capitalization of $8.69 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.67. Primo Brands Corporation has a 52 week low of $14.80 and a 52 week high of $26.21.

Primo Brands (NYSE:PRMB) last released its earnings results on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Primo Brands had a return on equity of 14.55% and a net margin of 3.06%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Primo Brands Corporation will post 1.27 earnings per share for the current year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be paid 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 Tuesday, November 24th. Primo Brands’s dividend payout ratio (DPR) is currently 85.71%.

Primo Brands Profile

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses. The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses. Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.