Primo Brands Corporation $PRMB Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC boosted its position in shares of Primo Brands Corporation (NYSE:PRMB) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,627,420 shares of the company’s stock after acquiring an additional 793,036 shares during the period. William Blair Investment Management LLC’s holdings in Primo Brands were worth $206,458,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PRMB. Dynamic Technology Lab Private Ltd acquired a new stake in Primo Brands during the 1st quarter valued at $229,000. Caxton Associates LLP acquired a new stake in Primo Brands during the 1st quarter valued at $266,000. American Century Companies Inc. grew its holdings in Primo Brands by 9.3% during the 2nd 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Primo Brands by 797.8% during the 2nd 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 in the last quarter. Finally, Invesco Ltd. grew its holdings in Primo Brands by 29.1% during the 2nd 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 in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Securities raised their price target on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a report on Monday, March 30th. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Jefferies Financial Group raised shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, March 27th. Finally, Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.91.

Primo Brands Price Performance

Shares of PRMB stock opened at $23.50 on Friday. The firm has a market cap of $8.53 billion, a P/E ratio of 167.83, a P/E/G ratio of 1.98 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. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $33.29. The firm has a fifty day moving average of $20.41 and a two-hundred day moving average of $18.82.

Primo Brands (NYSE:PRMB) last announced 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 company 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%.Primo Brands’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.29 earnings per share. As a group, research analysts anticipate that Primo Brands Corporation will post 1.28 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) 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.