Hiddenite Capital Partners LP Has $5.92 Million Stake in Primo Brands Corporation $PRMB

Hiddenite Capital Partners LP increased its holdings in shares of Primo Brands Corporation (NYSE:PRMB) by 14.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Primo Brands makes up about 1.6% of Hiddenite Capital Partners LP’s investment portfolio, making the stock its 18th biggest holding. Hiddenite Capital Partners LP owned 0.05% of Primo Brands worth $5,924,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in Primo Brands by 12.1% during the first quarter. Signaturefd LLC now owns 3,013 shares of the company’s stock worth $107,000 after purchasing an additional 325 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Primo Brands by 2.3% during the second quarter. Procyon Advisors LLC now owns 18,392 shares of the company’s stock worth $545,000 after purchasing an additional 411 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Primo Brands by 34.5% during the first quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $69,000 after purchasing an additional 498 shares during the last quarter. Fulton Bank N.A. raised its position in Primo Brands by 3.1% during the second quarter. Fulton Bank N.A. now owns 24,833 shares of the company’s stock worth $736,000 after acquiring an additional 737 shares in the last quarter. Finally, CWM LLC raised its position in Primo Brands by 20.5% during the first quarter. CWM LLC now owns 4,975 shares of the company’s stock worth $177,000 after acquiring an additional 847 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Price Performance

Shares of PRMB opened at $21.96 on Tuesday. The firm has a market capitalization of $8.20 billion, a PE ratio of -199.61, a PEG ratio of 0.61 and a beta of 0.76. The company’s 50-day moving average is $22.91 and its 200-day moving average is $27.31. Primo Brands Corporation has a fifty-two week low of $21.37 and a fifty-two week high of $35.85. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.06 and a quick ratio of 0.88.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.83 billion. The business’s revenue was up 31.6% compared to the same quarter last year. Primo Brands has set its FY 2025 guidance at EPS. Equities analysts forecast that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.10 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. Primo Brands’s dividend payout ratio is -363.64%.

Insider Activity at Primo Brands

In other Primo Brands news, Director Michael John Cramer purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $24.46 per share, for a total transaction of $97,840.00. Following the completion of the purchase, the director owned 12,762 shares of the company’s stock, valued at approximately $312,158.52. The trade was a 45.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robbert Rietbroek purchased 8,285 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $24.12 per share, for a total transaction of $199,834.20. Following the completion of the purchase, the chief executive officer directly owned 586,349 shares of the company’s stock, valued at $14,142,737.88. This represents a 1.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 24,685 shares of company stock worth $595,770. Corporate insiders own 58.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Primo Brands from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group started coverage on shares of Primo Brands in a research report on Friday, October 17th. They set a “hold” rating and a $23.00 price target on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Primo Brands in a research report on Wednesday, October 8th. Royal Bank Of Canada dropped their price objective on shares of Primo Brands from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Finally, TD Securities dropped their price objective on shares of Primo Brands from $48.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Primo Brands currently has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Primo Brands Company Profile

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.