Primo Brands Corporation $PRMB Position Increased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its position in Primo Brands Corporation (NYSE:PRMB) by 2,943.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,069 shares of the company’s stock after buying an additional 234,114 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.07% of Primo Brands worth $3,958,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. One Rock Capital Partners LLC purchased a new stake in Primo Brands in the 4th quarter worth about $1,900,047,000. Viking Global Investors LP grew its stake in Primo Brands by 17.5% during the 3rd 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. increased its holdings in shares of Primo Brands by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock valued at $376,522,000 after purchasing an additional 1,053,185 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Primo Brands by 189.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock valued at $236,333,000 after purchasing an additional 9,461,990 shares during the period. Finally, William Blair Investment Management LLC lifted its position in shares of Primo Brands by 6.7% in the fourth quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock worth $206,458,000 after purchasing an additional 793,036 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Price Performance

Shares of PRMB opened at $24.86 on Friday. 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 market cap of $9.02 billion, a PE ratio of 177.58, a PEG ratio of 2.15 and a beta of 0.72. The firm’s 50 day moving average price is $22.81 and its 200 day moving average price is $20.13. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $30.98.

Primo Brands (NYSE:PRMB) last released its quarterly 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). 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 prior year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts expect 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 was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 1.9%. Primo Brands’s dividend payout ratio is presently 342.86%.

Wall Street Analyst Weigh In

PRMB has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Barclays upped their price target on shares of Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.