Primo Brands Corporation (PRMB) To Go Ex-Dividend on August 24th

Primo Brands Corporation (NYSE:PRMB) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 24th will be given a dividend of 0.12 per share on Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 24th.

Primo Brands has decreased its dividend payment by an average of 0.0%per year over the last three years.

Primo Brands Stock Down 0.9%

Shares of NYSE PRMB opened at $22.82 on Friday. The company has a market capitalization of $8.28 billion, a P/E ratio of 162.96, a P/E/G ratio of 1.94 and a beta of 0.73. 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 50 day simple moving average of $24.04 and a 200-day simple moving average of $21.44. Primo Brands has a 1 year low of $14.36 and a 1 year high of $28.17.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, equities research analysts predict that Primo Brands will post 1.25 earnings per share for the current year.

Institutional Trading of Primo Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Primo Brands during the first quarter worth $229,000. Caxton Associates LLP acquired a new stake in shares of Primo Brands in the first quarter valued at $266,000. American Century Companies Inc. raised its holdings in shares of Primo Brands by 9.3% in the 2nd quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock valued at $806,000 after buying an additional 2,318 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Primo Brands by 797.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after buying an additional 48,509 shares during the period. Finally, Invesco Ltd. lifted its stake in Primo Brands by 29.1% during the 2nd quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock worth $8,931,000 after acquiring an additional 67,930 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.