M.D. Sass LLC Has $55.50 Million Stake in Primo Brands Corporation $PRMB

M.D. Sass LLC lifted its position in shares of Primo Brands Corporation (NYSE:PRMB) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,394,495 shares of the company’s stock after purchasing an additional 930,295 shares during the quarter. Primo Brands accounts for 4.4% of M.D. Sass LLC’s investment portfolio, making the stock its 11th largest holding. M.D. Sass LLC owned 0.92% of Primo Brands worth $55,500,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. AXQ Capital LP purchased a new stake in Primo Brands in the 4th quarter valued at $1,837,000. Lingotto Investment Management LLP purchased a new stake in Primo Brands in the 4th quarter valued at $2,930,000. BNP Paribas Financial Markets raised its position in Primo Brands by 116.8% in the 4th quarter. BNP Paribas Financial Markets now owns 681,931 shares of the company’s stock valued at $11,150,000 after buying an additional 367,427 shares during the last quarter. Norges Bank purchased a new stake in Primo Brands in the 4th quarter valued at $74,086,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Primo Brands in the 4th quarter valued at $6,794,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRMB. Mizuho increased their price target on Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, March 5th. TD Securities increased their price target on Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. lowered their price target on Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, March 27th. Finally, Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Stock Up 0.5%

Shares of NYSE:PRMB opened at $24.60 on Wednesday. The company has a market capitalization of $8.93 billion, a PE ratio of 175.72, a price-to-earnings-growth ratio of 2.11 and a beta of 0.72. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. The business has a fifty day moving average price of $20.90 and a two-hundred day moving average price of $19.07. Primo Brands Corporation has a 1 year low of $14.36 and a 1 year high of $32.44.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share (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 the consensus estimate of $1.58 billion. Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. Analysts forecast that Primo Brands Corporation will post 1.25 earnings per share for the current year.

Primo Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio is 342.86%.

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.