One Rock Capital Partners LLC Buys New Position in Primo Brands Corporation $PRMB

One Rock Capital Partners LLC purchased a new position in Primo Brands Corporation (NYSE:PRMB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 116,210,806 shares of the company’s stock, valued at approximately $1,900,047,000. Primo Brands accounts for 100.0% of One Rock Capital Partners LLC’s investment portfolio, making the stock its biggest position. One Rock Capital Partners LLC owned approximately 0.31% of Primo Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Xponance LLC boosted its position in shares of Primo Brands by 4.2% in the fourth quarter. Xponance LLC now owns 13,114 shares of the company’s stock worth $214,000 after purchasing an additional 528 shares during the period. Picton Mahoney Asset Management boosted its position 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 purchasing an additional 850 shares during the period. Madison Asset Management LLC boosted its position in shares of Primo Brands by 0.7% in the fourth quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock worth $2,362,000 after purchasing an additional 943 shares during the period. US Bancorp DE boosted its position 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 worth $65,000 after purchasing an additional 945 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 1,058 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Price Performance

PRMB stock opened at $24.38 on Wednesday. Primo Brands Corporation has a one year low of $14.36 and a one year high of $30.98. The company’s fifty day moving average price is $22.04 and its 200-day moving average price is $19.70. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.79 and a current ratio of 0.98. The company has a market capitalization of $8.85 billion, a PE ratio of 174.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last released its earnings results 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 return on equity of 13.98% and a net margin of 0.88%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm posted $0.29 EPS. Primo Brands’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Primo Brands Corporation will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, June 4th. Primo Brands’s payout ratio is 342.86%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRMB. Barclays upped their price target on shares of Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Royal Bank Of Canada set a $28.00 price target on shares of Primo Brands in a research report on Thursday, April 9th. JPMorgan Chase & Co. dropped their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, Mizuho upped their price target on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.