Eurizon Capital SGR S.p.A. Takes $6.79 Million Position in Primo Brands Corporation $PRMB

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Primo Brands Corporation (NYSE:PRMB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 415,503 shares of the company’s stock, valued at approximately $6,794,000. Eurizon Capital SGR S.p.A. owned about 0.11% of Primo Brands at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caption Management LLC bought a new position in shares of Primo Brands during the third quarter valued at about $27,000. LRI Investments LLC boosted its holdings in shares of Primo Brands by 203.1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after purchasing an additional 1,306 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Primo Brands by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after purchasing an additional 1,058 shares during the period. US Bancorp DE boosted its holdings in shares of Primo Brands by 47.2% during the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock worth $65,000 after purchasing an additional 945 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Primo Brands during the third quarter worth about $74,000. 87.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PRMB shares. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a report on Monday, March 30th. 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. Finally, Wall Street Zen upgraded shares of Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Stock Performance

Shares of PRMB opened at $24.52 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. Primo Brands Corporation has a one year low of $14.36 and a one year high of $33.04. The company has a 50-day simple moving average of $20.90 and a two-hundred day simple moving average of $19.07. The firm has a market capitalization of $8.90 billion, a PE ratio of 175.11, a price-to-earnings-growth ratio of 2.13 and a beta of 0.66.

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

Primo Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

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.