Deprince Race & Zollo Inc. Has $72.18 Million Position in Primo Brands Corporation $PRMB

Deprince Race & Zollo Inc. increased its position in shares of Primo Brands Corporation (NYSE:PRMB) by 442.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,833,041 shares of the company’s stock after acquiring an additional 3,126,083 shares during the period. Primo Brands comprises about 1.4% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 9th biggest position. Deprince Race & Zollo Inc. owned about 1.06% of Primo Brands worth $72,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRMB. Caption Management LLC acquired a new stake in shares of Primo Brands during the third quarter valued at about $27,000. LRI Investments LLC grew 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 last quarter. EverSource Wealth Advisors LLC increased 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 valued at $62,000 after buying an additional 1,058 shares during the period. Picton Mahoney Asset Management boosted its position in Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after buying an additional 850 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Primo Brands by 21,481.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after acquiring an additional 2,363 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $24.57 on Thursday. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $30.98. The firm has a fifty day simple moving average of $23.05 and a 200 day simple moving average of $20.34. The company has a market capitalization of $8.91 billion, a PE ratio of 175.46, a P/E/G ratio of 2.10 and a beta of 0.73. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72.

Primo Brands (NYSE:PRMB) last announced its earnings results 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 net margin of 0.88% and a return on equity of 13.98%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Primo Brands Corporation will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, June 4th. Primo Brands’s dividend payout ratio is presently 342.86%.

Analysts Set New Price Targets

PRMB has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Weiss Ratings upgraded Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Mizuho raised their target price on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Finally, Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Nine 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 currently has an average rating of “Moderate Buy” and a consensus target price of $25.91.

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.