Aristotle Capital Boston LLC Buys 345,844 Shares of Primo Brands Corporation $PRMB

Aristotle Capital Boston LLC increased its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 441.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,169 shares of the company’s stock after purchasing an additional 345,844 shares during the quarter. Aristotle Capital Boston LLC owned about 0.11% of Primo Brands worth $6,935,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRMB. Dynamic Technology Lab Private Ltd bought a new stake in shares of Primo Brands during the first quarter valued at approximately $229,000. Caxton Associates LLP bought a new position in Primo Brands in the first quarter valued at approximately $266,000. American Century Companies Inc. boosted its stake in Primo Brands by 9.3% in the second quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock valued at $806,000 after acquiring an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Primo Brands by 797.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after acquiring an additional 48,509 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Primo Brands by 29.1% in the second quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock valued at $8,931,000 after acquiring an additional 67,930 shares during the last quarter. 87.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PRMB has been the topic of a number of recent research reports. Barclays raised their price objective on shares of Primo Brands from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Mizuho raised their price objective 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. 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, TD Securities raised their price objective on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Nine 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.91.

Primo Brands Trading Down 2.9%

Shares of NYSE PRMB opened at $23.66 on Thursday. The company’s fifty day moving average is $22.13 and its 200-day moving average is $19.76. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 169.01, a P/E/G ratio of 2.10 and a beta of 0.72. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $30.98. 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 posted its quarterly earnings data on Thursday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that Primo Brands Corporation will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. 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.