Hsbc Holdings PLC Has $760,000 Stake in Primo Brands Corporation $PRMB

Hsbc Holdings PLC reduced its position in Primo Brands Corporation (NYSE:PRMB) by 73.5% in the 4th quarter, Holdings Channel reports. The firm owned 45,881 shares of the company’s stock after selling 127,035 shares during the quarter. Hsbc Holdings PLC’s holdings in Primo Brands were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Caption Management LLC bought a new stake in Primo Brands in the 3rd quarter valued at $27,000. LRI Investments LLC lifted its holdings in shares of Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after acquiring an additional 1,306 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after acquiring an additional 850 shares during the period. Quarry LP boosted its position in shares of Primo Brands by 516.6% during the 4th quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after acquiring an additional 1,994 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Primo Brands by 21,481.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock valued at $39,000 after acquiring an additional 2,363 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Price Performance

Shares of Primo Brands stock opened at $24.14 on Wednesday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 172.41, a P/E/G ratio of 2.05 and a beta of 0.73. The firm’s 50-day moving average price is $23.83 and its two-hundred day moving average price is $20.85. 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 Corporation has a 1-year low of $14.36 and a 1-year high of $29.23.

Primo Brands (NYSE:PRMB) last posted its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. On average, equities analysts predict that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on PRMB shares. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, March 27th. JPMorgan Chase & Co. decreased their price objective on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, Barclays increased their target price on Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average 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.