Primo Brands Corporation $PRMB Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in shares of Primo Brands Corporation (NYSE:PRMB) by 116.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 681,931 shares of the company’s stock after purchasing an additional 367,427 shares during the period. BNP Paribas Financial Markets’ holdings in Primo Brands were worth $11,150,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PRMB. Caption Management LLC purchased a new stake in shares of Primo Brands during the 3rd quarter worth $27,000. LRI Investments LLC lifted its position 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 purchasing an additional 1,306 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Primo Brands by 76.2% during the 4th quarter. GAMMA Investing LLC now owns 3,540 shares of the company’s stock worth $58,000 after purchasing an additional 1,531 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Primo Brands by 102.4% during the 2nd 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 last quarter. Finally, US Bancorp DE lifted its position in shares of Primo Brands by 47.2% during the 3rd 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 last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on PRMB. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research report on Thursday, April 9th. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. TD Securities lifted their price target on shares of Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Mizuho lifted their price target on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Finally, Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, March 27th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.91.

Primo Brands Trading Down 0.0%

Shares of Primo Brands stock opened at $22.94 on Monday. Primo Brands Corporation has a 1 year low of $14.36 and a 1 year high of $31.49. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.79 and a current ratio of 0.98. The company has a market capitalization of $8.33 billion, a P/E ratio of 163.88, a PEG ratio of 1.98 and a beta of 0.72. The company’s fifty day moving average is $21.32 and its two-hundred day moving average is $19.28.

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 the consensus estimate 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 net margin of 0.88% and a return on equity of 13.98%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. Analysts forecast that Primo Brands Corporation will post 1.25 earnings per share for the current year.

Primo Brands Announces Dividend

The company 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 $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Primo Brands’s payout ratio is presently 342.86%.

Primo Brands Company 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.