Aristotle Capital Boston LLC Has $6.94 Million Stock Holdings in Primo Brands Corporation $PRMB

Aristotle Capital Boston LLC lifted its position in shares of Primo Brands Corporation (NYSE:PRMB) by 441.5% during the 4th quarter, Holdings Channel reports. The firm owned 424,169 shares of the company’s stock after purchasing an additional 345,844 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Primo Brands were worth $6,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PRMB. Dynamic Technology Lab Private Ltd acquired a new position in shares of Primo Brands during the 1st quarter worth about $229,000. Caxton Associates LLP bought a new position in shares of Primo Brands in the first quarter valued at about $266,000. American Century Companies Inc. raised its position in shares of 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 purchasing an additional 2,318 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of 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 purchasing an additional 48,509 shares during the period. Finally, Invesco Ltd. raised its position in shares of 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 purchasing an additional 67,930 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PRMB has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, March 27th. Mizuho upped 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. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Barclays upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Stock Down 2.9%

Shares of PRMB opened at $23.66 on Thursday. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $30.98. The firm’s 50 day moving average is $22.13 and its 200-day moving average is $19.76. The stock has a market capitalization of $8.59 billion, a PE ratio of 169.01, a P/E/G ratio of 2.10 and a beta of 0.72. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72.

Primo Brands (NYSE:PRMB) last announced 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 business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Primo Brands Corporation will post 1.25 EPS for the current year.

Primo Brands Announces Dividend

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

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.