Lingotto Investment Management LLP Acquires New Holdings in Primo Brands Corporation $PRMB

Lingotto Investment Management LLP acquired a new stake in Primo Brands Corporation (NYSE:PRMB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 179,200 shares of the company’s stock, valued at approximately $2,930,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Madison Asset Management LLC grew 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 valued at $2,362,000 after acquiring an additional 943 shares during the last quarter. US Bancorp DE grew 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 valued at $65,000 after acquiring an additional 945 shares during the last quarter. EverSource Wealth Advisors LLC grew 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 valued at $62,000 after acquiring an additional 1,058 shares during the last quarter. Caption Management LLC acquired a new stake in Primo Brands in the 3rd quarter valued at about $27,000. Finally, LRI Investments LLC grew its stake in Primo Brands by 203.1% in the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after acquiring an additional 1,306 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRMB has been the topic of a number of research reports. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research note on Thursday, April 9th. Jefferies Financial Group raised shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, March 27th. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Mizuho upped their target price 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. Finally, Barclays upped their target price on shares of Primo Brands from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

Primo Brands Price Performance

NYSE:PRMB opened at $24.52 on Tuesday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 175.11, a price-to-earnings-growth ratio of 2.13 and a beta of 0.66. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $33.04. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average is $20.90 and its two-hundred day moving average is $19.07.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data 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 company had revenue of $1.63 billion for 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%.The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. Research analysts expect that Primo Brands Corporation will post 1.25 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. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio is presently 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.