Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $4.12 Million Position in Primo Brands Corporation $PRMB

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Primo Brands Corporation (NYSE:PRMB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 251,999 shares of the company’s stock, valued at approximately $4,120,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caption Management LLC bought a new stake in Primo Brands in the 3rd quarter valued at approximately $27,000. LRI Investments LLC grew its stake in shares of Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after acquiring an additional 1,306 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Primo Brands by 102.4% during the 2nd 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 in the last quarter. US Bancorp DE raised its holdings in shares of Primo Brands by 47.2% in the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after purchasing an additional 945 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Primo Brands in the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Stock Performance

Shares of PRMB stock opened at $22.60 on Thursday. The stock has a market cap of $8.20 billion, a P/E ratio of 161.44, a P/E/G ratio of 1.89 and a beta of 0.66. 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 company has a fifty day moving average price of $20.33 and a two-hundred day moving average price of $18.78. Primo Brands Corporation has a one year low of $14.36 and a one year high of $33.29.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates 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 firm earned $0.29 earnings per share. As a group, equities analysts predict that Primo Brands Corporation will post 1.28 EPS for the current 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 given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands’s payout ratio is 342.86%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Mizuho lifted their price target on shares of Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Wall Street Zen cut Primo Brands from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada set a $28.00 target price on Primo Brands in a research report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Company 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.