Primo Brands Corporation $PRMB is Pertento Partners LLP’s 5th Largest Position

Pertento Partners LLP lifted its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 5.9% during the third quarter, Holdings Channel reports. The fund owned 2,818,495 shares of the company’s stock after acquiring an additional 155,836 shares during the period. Primo Brands comprises 7.2% of Pertento Partners LLP’s investment portfolio, making the stock its 5th largest position. Pertento Partners LLP’s holdings in Primo Brands were worth $62,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PRMB. iA Global Asset Management Inc. grew its holdings in Primo Brands by 102.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 346,570 shares of the company’s stock worth $7,659,000 after acquiring an additional 175,620 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Primo Brands during the second quarter worth $3,255,000. KBC Group NV increased its holdings in Primo Brands by 0.7% in the second quarter. KBC Group NV now owns 2,066,527 shares of the company’s stock valued at $61,211,000 after buying an additional 15,299 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Primo Brands by 249.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 77,792 shares of the company’s stock valued at $1,719,000 after buying an additional 55,505 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in Primo Brands by 11.6% in the third quarter. William Blair Investment Management LLC now owns 11,834,384 shares of the company’s stock valued at $261,540,000 after buying an additional 1,231,701 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $21.00 on Thursday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78. The company has a market cap of $7.63 billion, a PE ratio of 140.01, a P/E/G ratio of 1.55 and a beta of 0.61. The stock has a fifty day moving average price of $19.28 and a 200 day moving average price of $19.71. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $35.85.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm earned $0.13 EPS. Primo Brands’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts forecast that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be issued a dividend of $0.12 per share. This is an increase from Primo Brands’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 6th. Primo Brands’s dividend payout ratio is currently 266.67%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Securities upped their price objective on Primo Brands from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Royal Bank Of Canada raised their target price on Primo Brands to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Morgan Stanley restated an “overweight” rating on shares of Primo Brands in a research note on Monday, January 5th. BMO Capital Markets restated an “outperform” rating and issued a $35.00 target price on shares of Primo Brands in a report on Friday, January 23rd. Finally, The Goldman Sachs Group decreased their price objective 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 investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Primo Brands currently has an average rating of “Moderate Buy” and a consensus price target of $27.25.

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.