Fiducient Advisors LLC Takes $9.56 Million Position in Primo Brands Corporation $PRMB

Fiducient Advisors LLC purchased a new stake in shares of Primo Brands Corporation (NYSE:PRMB) during the 4th quarter, Holdings Channel.com reports. The fund purchased 584,731 shares of the company’s stock, valued at approximately $9,560,000. Primo Brands accounts for about 1.2% of Fiducient Advisors LLC’s portfolio, making the stock its 21st biggest position.

Several other hedge funds have also modified their holdings of PRMB. Viking Global Investors LP grew its stake in shares of Primo Brands by 290.2% during the second quarter. Viking Global Investors LP now owns 19,602,116 shares of the company’s stock valued at $580,615,000 after purchasing an additional 14,578,589 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Primo Brands by 2,486.6% during the second quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock valued at $173,784,000 after purchasing an additional 5,640,287 shares during the last quarter. Holocene Advisors LP acquired a new position in Primo Brands in the third quarter valued at approximately $55,160,000. Clarkston Capital Partners LLC acquired a new position in Primo Brands in the third quarter valued at approximately $50,281,000. Finally, Man Group plc lifted its holdings in Primo Brands by 294.2% in the third quarter. Man Group plc now owns 2,948,565 shares of the company’s stock valued at $65,163,000 after buying an additional 2,200,615 shares during the period. 87.71% of the stock is owned by institutional investors.

Primo Brands Trading Up 1.5%

PRMB opened at $24.89 on Friday. The firm’s fifty day moving average is $20.70 and its two-hundred day moving average is $18.94. 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 $9.03 billion, a PE ratio of 177.79, a price-to-earnings-growth ratio of 2.13 and a beta of 0.66. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $33.17.

Primo Brands (NYSE:PRMB) last posted its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. Equities research analysts anticipate that Primo Brands Corporation will post 1.24 EPS for the current year.

Primo Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft cut their price objective 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. TD Securities increased their price objective on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, March 27th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

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.