Thrivent Financial for Lutherans Buys 24,970 Shares of Primo Brands Corporation $PRMB

Thrivent Financial for Lutherans lifted its holdings in Primo Brands Corporation (NYSE:PRMB) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,228 shares of the company’s stock after acquiring an additional 24,970 shares during the period. Thrivent Financial for Lutherans’ holdings in Primo Brands were worth $2,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PRMB. Caption Management LLC bought a new position in shares of Primo Brands in the third quarter worth about $27,000. LRI Investments LLC boosted its stake in shares of Primo Brands by 203.1% in the fourth 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. GAMMA Investing LLC boosted its stake in shares of Primo Brands by 76.2% in the fourth quarter. GAMMA Investing LLC now owns 3,540 shares of the company’s stock worth $58,000 after acquiring an additional 1,531 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Primo Brands by 102.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after acquiring an additional 1,058 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Primo Brands by 47.2% in the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock worth $65,000 after acquiring an additional 945 shares during the period. Institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PRMB shares. Mizuho upped their price objective on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Royal Bank Of Canada set a $28.00 price objective on Primo Brands in a research note on Thursday, April 9th. Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, TD Securities upped their price objective on Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.91.

Primo Brands Price Performance

NYSE:PRMB opened at $23.92 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $8.68 billion, a P/E ratio of 170.86, a P/E/G ratio of 1.98 and a beta of 0.66. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $33.29. The business’s 50-day moving average is $20.53 and its 200 day moving average is $18.82.

Primo Brands (NYSE:PRMB) last posted its earnings results on Thursday, May 7th. The company reported $0.23 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 analysts’ expectations of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.Primo Brands’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Thursday, June 4th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 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.