J. Derek Lewis & Associates Inc. Invests $638,000 in Primo Brands Corporation $PRMB

J. Derek Lewis & Associates Inc. acquired a new stake in shares of Primo Brands Corporation (NYSE:PRMB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 39,000 shares of the company’s stock, valued at approximately $638,000.

Other large investors also recently modified their holdings of the company. Caption Management LLC purchased a new stake in Primo Brands in the 3rd quarter worth $27,000. LRI Investments LLC lifted its position in shares of 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 acquiring an additional 1,306 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Primo Brands by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after acquiring an additional 1,058 shares during the period. Picton Mahoney Asset Management boosted its stake in shares of Primo Brands by 65.2% in the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after acquiring an additional 850 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Primo Brands by 21,481.8% in 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 period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRMB. Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Friday, March 27th. Mizuho upped their price target on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Wall Street Zen upgraded Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. 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, Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research report on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Primo Brands has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

Primo Brands Stock Down 0.1%

PRMB opened at $24.26 on Friday. The firm has a 50-day simple moving average of $22.34 and a two-hundred day simple moving average of $19.84. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $30.98. The company has a market capitalization of $8.80 billion, a PE ratio of 173.26, a price-to-earnings-growth ratio of 2.09 and a beta of 0.72. 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 issued its earnings results 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). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Analysts forecast that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Primo Brands’s 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.