Primo Brands Corporation $PRMB Shares Purchased by State of Wyoming

State of Wyoming boosted its stake in Primo Brands Corporation (NYSE:PRMB) by 515.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,070 shares of the company’s stock after purchasing an additional 26,855 shares during the period. State of Wyoming’s holdings in Primo Brands were worth $524,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Madison Asset Management LLC increased its holdings in Primo Brands by 0.7% in the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock valued at $2,362,000 after purchasing an additional 943 shares in the last quarter. US Bancorp DE boosted its position in Primo Brands by 47.2% in the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after buying an additional 945 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after buying an additional 1,058 shares during the last quarter. Caption Management LLC purchased a new position in Primo Brands in the 3rd quarter valued at about $27,000. Finally, LRI Investments LLC boosted its position in Primo Brands by 203.1% in the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after buying an additional 1,306 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Performance

Shares of PRMB stock opened at $22.94 on Friday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.79 and a current ratio of 0.98. Primo Brands Corporation has a one year low of $14.36 and a one year high of $31.49. The company’s 50-day simple moving average is $21.32 and its 200-day simple moving average is $19.26. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 163.88, a PEG ratio of 1.98 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts anticipate that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PRMB shares. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research report on Thursday, April 9th. Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Barclays upped their price objective on shares of Primo Brands from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Primo Brands presently has a consensus rating of “Moderate Buy” and an average target price of $25.91.

Primo Brands 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.