William Blair Investment Management LLC Boosts Stock Holdings in Primo Brands Corporation $PRMB

William Blair Investment Management LLC boosted its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,627,420 shares of the company’s stock after purchasing an additional 793,036 shares during the period. William Blair Investment Management LLC owned approximately 3.41% of Primo Brands worth $206,458,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new position in Primo Brands during the fourth quarter worth approximately $229,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Primo Brands during the fourth quarter worth approximately $4,120,000. Handelsbanken Fonder AB raised its stake in Primo Brands by 36.4% during the fourth quarter. Handelsbanken Fonder AB now owns 70,141 shares of the company’s stock worth $1,147,000 after purchasing an additional 18,700 shares during the period. AlphaCore Capital LLC raised its stake in Primo Brands by 4.1% during the fourth quarter. AlphaCore Capital LLC now owns 62,298 shares of the company’s stock worth $1,019,000 after purchasing an additional 2,480 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Primo Brands by 23.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 130,228 shares of the company’s stock worth $2,129,000 after purchasing an additional 24,970 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PRMB shares. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. 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 research note on Friday, March 27th. JPMorgan Chase & Co. cut their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Barclays increased their price target on shares of Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Primo Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Price Performance

Primo Brands stock opened at $23.50 on Friday. Primo Brands Corporation has a 52-week low of $14.36 and a 52-week high of $33.29. The firm has a fifty day moving average of $20.41 and a 200-day moving average of $18.82. The firm has a market capitalization of $8.53 billion, a P/E ratio of 167.83, a PEG ratio of 1.98 and a beta of 0.66. 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 quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.29 EPS. Primo Brands’s revenue was up .8% on a year-over-year basis. As a group, analysts predict that Primo Brands Corporation will post 1.28 EPS for the current year.

Primo Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Primo Brands’s dividend payout ratio is presently 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.