Neumeier Poma Investment Counsel LLC Has $22.12 Million Stock Holdings in Primo Brands Corporation $PRMB

Neumeier Poma Investment Counsel LLC boosted its position in shares of Primo Brands Corporation (NYSE:PRMB) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,000,956 shares of the company’s stock after purchasing an additional 26,410 shares during the quarter. Neumeier Poma Investment Counsel LLC owned 0.27% of Primo Brands worth $22,121,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Viking Global Investors LP grew its holdings in shares of Primo Brands by 290.2% in the 2nd quarter. Viking Global Investors LP now owns 19,602,116 shares of the company’s stock valued at $580,615,000 after buying an additional 14,578,589 shares during the period. Boston Partners lifted its holdings in Primo Brands by 13.7% during the second quarter. Boston Partners now owns 8,089,479 shares of the company’s stock worth $239,551,000 after acquiring an additional 971,939 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Primo Brands by 2,486.6% during the second quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock worth $173,784,000 after acquiring an additional 5,640,287 shares in the last quarter. Third Point LLC grew its stake in Primo Brands by 108.1% in the second quarter. Third Point LLC now owns 5,775,000 shares of the company’s stock valued at $171,056,000 after acquiring an additional 3,000,000 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Primo Brands by 32.7% in the second quarter. Ameriprise Financial Inc. now owns 4,912,684 shares of the company’s stock worth $145,514,000 after acquiring an additional 1,210,773 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRMB has been the topic of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $26.00 price objective on shares of Primo Brands in a report on Tuesday. Mizuho cut their price target on shares of Primo Brands from $28.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. Zacks Research downgraded shares of Primo Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Barclays dropped their price objective on shares of Primo Brands from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Primo Brands from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Primo Brands Trading Up 1.1%

Primo Brands stock opened at $19.58 on Thursday. The company has a market cap of $7.25 billion, a price-to-earnings ratio of -63.14, a P/E/G ratio of 0.70 and a beta of 0.63. The firm has a 50-day moving average of $18.12 and a 200-day moving average of $19.88. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.02 and a quick ratio of 0.86. Primo Brands Corporation has a one year low of $14.36 and a one year high of $35.85.

Primo Brands (NYSE:PRMB) last released its earnings results on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Primo Brands had a positive return on equity of 12.52% and a negative net margin of 1.30%.The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. On average, equities analysts expect that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.5%. This is an increase from Primo Brands’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 6th. Primo Brands’s payout ratio is currently -129.03%.

Primo Brands declared that its board has authorized a stock repurchase program on Monday, November 10th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Primo Brands

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.