Siren L.L.C. Sells 25,000 Shares of Primo Brands Corporation $PRMB

Siren L.L.C. cut its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,000 shares of the company’s stock after selling 25,000 shares during the quarter. Siren L.L.C.’s holdings in Primo Brands were worth $942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. One Rock Capital Partners LLC bought a new position in Primo Brands in the fourth quarter worth approximately $1,900,047,000. Viking Global Investors LP increased its holdings in Primo Brands by 17.5% during the 3rd quarter. Viking Global Investors LP now owns 23,033,970 shares of the company’s stock worth $509,051,000 after purchasing an additional 3,431,854 shares during the period. Vanguard Group Inc. raised its position in Primo Brands by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock valued at $376,522,000 after purchasing an additional 1,053,185 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Primo Brands by 189.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 14,454,637 shares of the company’s stock valued at $236,333,000 after purchasing an additional 9,461,990 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Primo Brands by 6.7% in the 4th quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock worth $206,458,000 after buying an additional 793,036 shares during the period. Institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PRMB shares. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $28.00 price objective on Primo Brands in a report on Thursday, April 9th. Wall Street Zen raised shares of Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. 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 report on Friday, March 27th. Finally, Barclays raised their target price on shares of Primo Brands from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.36.

Primo Brands Stock Performance

Shares of PRMB opened at $22.74 on Friday. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $29.02. The stock has a fifty day moving average price of $24.04 and a 200-day moving average price of $21.24. 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 firm has a market cap of $8.25 billion, a PE ratio of 162.42, a P/E/G ratio of 2.04 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last announced its earnings results 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). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts predict that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Primo Brands’s payout ratio is presently 342.86%.

Primo Brands Company 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.