Primo Brands Corporation $PRMB Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its stake in Primo Brands Corporation (NYSE:PRMB) by 78.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,123 shares of the company’s stock after selling 94,042 shares during the period. Jefferies Financial Group Inc.’s holdings in Primo Brands were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Viking Global Investors LP raised its holdings in Primo Brands by 17.5% in the third quarter. Viking Global Investors LP now owns 23,033,970 shares of the company’s stock valued at $509,051,000 after acquiring an additional 3,431,854 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Primo Brands by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock valued at $376,522,000 after acquiring an additional 1,053,185 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Primo Brands by 11.6% during the third quarter. William Blair Investment Management LLC now owns 11,834,384 shares of the company’s stock worth $261,540,000 after purchasing an additional 1,231,701 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Primo Brands by 2,486.6% during the second quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock worth $173,784,000 after purchasing an additional 5,640,287 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Primo Brands by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 5,090,613 shares of the company’s stock worth $112,503,000 after purchasing an additional 177,929 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PRMB shares. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, March 27th. JPMorgan Chase & Co. dropped their target price on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a report on Thursday, April 9th. Finally, Barclays increased their target price on shares of 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Stock Down 0.1%

Shares of NYSE:PRMB opened at $24.84 on Friday. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 177.41, a price-to-earnings-growth 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 company’s fifty day moving average is $20.80 and its two-hundred day moving average is $18.98. 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 (NYSE:PRMB) last issued its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The business 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%.The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $0.29 earnings per share. Equities analysts anticipate that Primo Brands Corporation will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The company 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 is Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. Primo Brands’s dividend payout ratio 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.