Kettle Hill Capital Management LLC Buys Shares of 373,503 Primo Brands Corporation $PRMB

Kettle Hill Capital Management LLC bought a new stake in shares of Primo Brands Corporation (NYSE:PRMB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 373,503 shares of the company’s stock, valued at approximately $6,107,000. Primo Brands accounts for about 1.4% of Kettle Hill Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Kettle Hill Capital Management LLC owned about 0.10% of Primo Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Xponance LLC raised its holdings in Primo Brands by 4.2% during the 4th quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after acquiring an additional 528 shares during the period. Picton Mahoney Asset Management lifted its stake in Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock worth $35,000 after purchasing an additional 850 shares in the last quarter. Madison Asset Management LLC lifted its stake in Primo Brands by 0.7% in the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock worth $2,362,000 after purchasing an additional 943 shares in the last quarter. US Bancorp DE lifted its stake in Primo Brands by 47.2% in the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock worth $65,000 after purchasing an additional 945 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRMB. TD Securities increased their target price on shares of Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Friday, March 27th. Barclays increased their target price 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. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a research note on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Stock Performance

Primo Brands stock opened at $24.59 on Tuesday. The firm’s fifty day moving average price is $21.93 and its 200-day moving average price is $19.64. 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 stock has a market cap of $8.92 billion, a P/E ratio of 175.61, a price-to-earnings-growth ratio of 2.08 and a beta of 0.72. Primo Brands Corporation has a fifty-two week low of $14.36 and a fifty-two week high of $30.98.

Primo Brands (NYSE:PRMB) last issued its 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). The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.Primo Brands’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 EPS. On average, equities research analysts expect that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

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.