Fideuram Intesa Sanpaolo Private Banking S.P.A. Boosts Stock Position in Primo Brands Corporation $PRMB

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its holdings in shares of Primo Brands Corporation (NYSE:PRMB) by 91.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 482,493 shares of the company’s stock after buying an additional 230,494 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.13% of Primo Brands worth $9,085,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PRMB. Caption Management LLC bought a new position in Primo Brands during the 3rd quarter valued at about $27,000. LRI Investments LLC boosted its position 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 valued at $32,000 after buying an additional 1,306 shares during the period. Picton Mahoney Asset Management boosted its position in shares of Primo Brands by 65.2% during the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after buying an additional 850 shares during the period. Quarry LP grew its stake in shares of Primo Brands by 516.6% during the fourth quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after buying an additional 1,994 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Primo Brands by 21,481.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock worth $39,000 after buying an additional 2,363 shares during the period. Institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Performance

PRMB stock opened at $25.00 on Friday. Primo Brands Corporation has a one year low of $14.36 and a one year high of $30.98. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 178.58, a PEG ratio of 2.11 and a beta of 0.73. 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 firm has a 50-day simple moving average of $23.15 and a two-hundred day simple moving average of $20.41.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that Primo Brands Corporation will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a $0.12 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. Primo Brands’s dividend payout ratio is presently 342.86%.

Analysts Set New Price Targets

Several equities analysts have commented on PRMB shares. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $28.00 target price on Primo Brands in a research report on Thursday, April 9th. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

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.