Deprince Race & Zollo Inc. Has $72.18 Million Stock Position in Primo Brands Corporation $PRMB

Deprince Race & Zollo Inc. increased its position in Primo Brands Corporation (NYSE:PRMB) by 442.2% during the first quarter, Holdings Channel.com reports. The firm owned 3,833,041 shares of the company’s stock after buying an additional 3,126,083 shares during the quarter. Primo Brands accounts for approximately 1.4% of Deprince Race & Zollo Inc.’s holdings, making the stock its 9th biggest position. Deprince Race & Zollo Inc.’s holdings in Primo Brands were worth $72,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRMB. Janney Montgomery Scott LLC bought a new stake in shares of Primo Brands during the first quarter worth about $413,000. Campbell Newman Asset Management Inc. boosted its position in shares of Primo Brands by 2.2% during the first quarter. Campbell Newman Asset Management Inc. now owns 55,001 shares of the company’s stock valued at $1,036,000 after buying an additional 1,158 shares during the last quarter. J. Derek Lewis & Associates Inc. purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $638,000. Rockefeller Capital Management L.P. grew its holdings in Primo Brands by 2,943.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 242,069 shares of the company’s stock worth $3,958,000 after buying an additional 234,114 shares in the last quarter. Finally, BDFS Capital LLC bought a new position in Primo Brands during the 4th quarter valued at $230,000. Institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PRMB shares. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Friday, March 27th. JPMorgan Chase & Co. cut their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada set a $28.00 target price on Primo Brands in a report on Thursday, April 9th. Barclays lifted their price target on Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Nine 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.91.

Primo Brands Stock Performance

NYSE:PRMB opened at $24.57 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. The business has a fifty day simple moving average of $23.05 and a two-hundred day simple moving average of $20.34. Primo Brands Corporation has a 1 year low of $14.36 and a 1 year high of $30.98. The company has a market capitalization of $8.91 billion, a P/E ratio of 175.46, a P/E/G ratio of 2.10 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last issued 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 quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 EPS. On average, analysts expect that Primo Brands Corporation will post 1.25 earnings per share for the current year.

Primo Brands Announces Dividend

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