Wealth Enhancement Advisory Services LLC Has $679,000 Stock Position in Primo Brands Corporation $PRMB

Wealth Enhancement Advisory Services LLC lifted its stake in Primo Brands Corporation (NYSE:PRMB) by 184.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,163 shares of the company’s stock after acquiring an additional 27,359 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Primo Brands were worth $679,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PRMB. Caption Management LLC acquired a new position in Primo Brands during the third quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new position in Primo Brands during the third quarter worth approximately $47,000. 1620 Investment Advisors Inc. acquired a new position in Primo Brands during the third quarter worth approximately $54,000. Blue Trust Inc. acquired a new position in Primo Brands during the third quarter worth approximately $57,000. Finally, GAMMA Investing LLC increased its position in Primo Brands by 76.2% during the fourth quarter. GAMMA Investing LLC now owns 3,540 shares of the company’s stock worth $58,000 after buying an additional 1,531 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Stock Performance

PRMB opened at $19.55 on Thursday. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $35.14. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 130.30, a PEG ratio of 1.44 and a beta of 0.66. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The company’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $19.00.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, analysts expect that Primo Brands Corporation will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were issued a $0.12 dividend. This is a boost from Primo Brands’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Primo Brands’s payout ratio is presently 266.67%.

Analyst Upgrades and Downgrades

PRMB has been the subject of several recent research reports. Zacks Research upgraded Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. lowered their target price on Primo Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, December 18th. Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, March 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. Finally, Mizuho raised their target price on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.45.

Primo Brands Profile

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.