Primo Brands Corporation $PRMB Shares Sold by State of Wyoming

State of Wyoming trimmed its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 85.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,765 shares of the company’s stock after selling 27,305 shares during the quarter. State of Wyoming’s holdings in Primo Brands were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PRMB. Caption Management LLC bought a new position in Primo Brands during the 3rd quarter worth $27,000. LRI Investments LLC lifted its stake in Primo Brands by 203.1% in the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after buying an additional 1,306 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Primo Brands by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after acquiring an additional 1,058 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Primo Brands by 65.2% during the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after acquiring an additional 850 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Primo Brands by 21,481.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after acquiring an additional 2,363 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

Primo Brands Price Performance

Shares of PRMB opened at $22.72 on Monday. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 162.26, a price-to-earnings-growth ratio of 1.92 and a beta of 0.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.79 and a current ratio of 0.98. Primo Brands Corporation has a one year low of $14.36 and a one year high of $28.17. The stock’s fifty day moving average is $24.03 and its 200-day moving average is $21.48.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. Primo Brands’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Equities analysts anticipate 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. Shareholders of record on Monday, August 24th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.48 annualized dividend and a yield of 2.1%. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

Primo Brands 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.