Primo Brands Corporation $PRMB Shares Bought by Ethic Inc.

Ethic Inc. grew its holdings in Primo Brands Corporation (NYSE:PRMB) by 275.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,553 shares of the company’s stock after purchasing an additional 26,091 shares during the period. Ethic Inc.’s holdings in Primo Brands were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Viking Global Investors LP lifted its holdings in shares of Primo Brands by 17.5% in the third 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Primo Brands by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock valued at $376,522,000 after purchasing an additional 1,053,185 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Primo Brands by 11.6% in the third quarter. William Blair Investment Management LLC now owns 11,834,384 shares of the company’s stock valued at $261,540,000 after purchasing an additional 1,231,701 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Primo Brands by 2,486.6% during the second quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock worth $173,784,000 after acquiring an additional 5,640,287 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Primo Brands by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 5,090,613 shares of the company’s stock worth $112,503,000 after acquiring an additional 177,929 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their price target on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. 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 report on Friday, March 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Finally, Wall Street Zen downgraded Primo Brands from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.91.

Primo Brands Stock Down 0.4%

Shares of PRMB opened at $23.18 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 165.59, a P/E/G ratio of 1.96 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $33.29. The company has a 50-day moving average price of $20.27 and a two-hundred day moving average price of $18.79.

Primo Brands (NYSE:PRMB) last announced 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 business had revenue of $1.63 billion for 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 firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. Equities analysts predict that Primo Brands Corporation will post 1.28 EPS for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. Primo Brands’s dividend payout ratio (DPR) is currently 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.