Neumeier Poma Investment Counsel LLC Sells 132,871 Shares of Primo Brands Corporation $PRMB

Neumeier Poma Investment Counsel LLC lessened its stake in Primo Brands Corporation (NYSE:PRMB) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 868,085 shares of the company’s stock after selling 132,871 shares during the quarter. Neumeier Poma Investment Counsel LLC owned approximately 0.23% of Primo Brands worth $14,193,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Madison Asset Management LLC raised its holdings in shares of Primo Brands by 0.7% in the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock worth $2,362,000 after purchasing an additional 943 shares during the period. US Bancorp DE raised its holdings in shares of Primo Brands by 47.2% in the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock worth $65,000 after purchasing an additional 945 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after purchasing an additional 1,058 shares during the period. Caption Management LLC bought a new stake in shares of Primo Brands in the 3rd quarter worth approximately $27,000. Finally, LRI Investments LLC raised its holdings in shares of Primo Brands by 203.1% in the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after purchasing an additional 1,306 shares during the period. Institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

PRMB has been the topic of a number of research reports. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price target 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. Jefferies Financial Group raised shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, March 27th. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, TD Securities boosted their target price on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, February 27th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Primo Brands currently has an average rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Stock Down 4.9%

PRMB opened at $23.00 on Friday. The company has a fifty day moving average price of $21.23 and a 200-day moving average price of $19.23. The firm has a market capitalization of $8.34 billion, a P/E ratio of 164.26, a price-to-earnings-growth ratio of 2.08 and a beta of 0.72. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. Primo Brands Corporation has a one year low of $14.36 and a one year high of $31.49.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.23 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%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. Equities research analysts expect that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, June 4th. Primo Brands’s payout ratio is 342.86%.

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.