SummitTX Capital L.P. Has $1.21 Million Position in Primo Brands Corporation $PRMB

SummitTX Capital L.P. boosted its holdings in shares of Primo Brands Corporation (NYSE:PRMB) by 164.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,428 shares of the company’s stock after acquiring an additional 40,019 shares during the quarter. SummitTX Capital L.P.’s holdings in Primo Brands were worth $1,213,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. One Rock Capital Partners LLC bought a new position in shares of Primo Brands during the 4th quarter valued at $1,900,047,000. Viking Global Investors LP lifted its stake in shares of Primo Brands by 17.5% in the 3rd quarter. Viking Global Investors LP now owns 23,033,970 shares of the company’s stock valued at $509,051,000 after purchasing an additional 3,431,854 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Primo Brands by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock worth $376,522,000 after purchasing an additional 1,053,185 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Primo Brands by 189.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock worth $236,333,000 after purchasing an additional 9,461,990 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in Primo Brands by 6.7% during the fourth quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock worth $206,458,000 after buying an additional 793,036 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Down 2.4%

Shares of PRMB stock opened at $22.98 on Thursday. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $28.48. The firm has a market cap of $8.34 billion, a PE ratio of 164.15, a price-to-earnings-growth ratio of 1.99 and a beta of 0.73. The stock has a 50 day moving average of $24.05 and a 200-day moving average of $21.41. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72.

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

Primo Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Monday, August 24th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, August 24th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

Analyst Ratings Changes

Several research firms have recently issued reports on PRMB. Royal Bank Of Canada set a $28.00 price target on Primo Brands in a research note on Thursday, April 9th. Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Barclays increased their price target on Primo Brands from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.36.

Primo Brands Company 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.