Fiducient Advisors LLC Purchases Shares of 584,731 Primo Brands Corporation $PRMB

Fiducient Advisors LLC purchased a new stake in shares of Primo Brands Corporation (NYSE:PRMB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 584,731 shares of the company’s stock, valued at approximately $9,560,000. Primo Brands accounts for approximately 1.2% of Fiducient Advisors LLC’s portfolio, making the stock its 21st largest holding. Fiducient Advisors LLC owned approximately 0.16% of Primo Brands as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRMB. Geode Capital Management LLC raised its position in shares of Primo Brands by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,253,356 shares of the company’s stock valued at $69,558,000 after buying an additional 11,617 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of Primo Brands by 83.3% during the fourth quarter. King Luther Capital Management Corp now owns 314,096 shares of the company’s stock valued at $5,135,000 after buying an additional 142,695 shares during the last quarter. Legal & General Group Plc raised its position in shares of Primo Brands by 0.4% during the fourth quarter. Legal & General Group Plc now owns 964,002 shares of the company’s stock valued at $15,761,000 after buying an additional 3,420 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Primo Brands by 6.7% during the fourth quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock valued at $206,458,000 after buying an additional 793,036 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Primo Brands during the fourth quarter valued at about $229,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Price Performance

Shares of Primo Brands stock opened at $24.89 on Friday. 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 stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 177.79, a P/E/G ratio of 2.13 and a beta of 0.66. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $33.17. The firm’s 50-day moving average price is $20.70 and its two-hundred day moving average price is $18.94.

Primo Brands (NYSE:PRMB) last issued 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 firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. On average, equities analysts predict that Primo Brands Corporation will post 1.24 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, June 4th. Primo Brands’s dividend payout ratio is currently 342.86%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRMB. Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. lowered their target price on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Mizuho upped their target price on shares of Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Finally, 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. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.91.

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.