Sei Investments Co. Increases Holdings in Primo Brands Corporation $PRMB

Sei Investments Co. grew its holdings in Primo Brands Corporation (NYSE:PRMB) by 69.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,090,509 shares of the company’s stock after buying an additional 445,636 shares during the quarter. Sei Investments Co.’s holdings in Primo Brands were worth $20,534,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRMB. Xponance LLC increased its stake in shares of Primo Brands by 4.2% during the fourth quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after buying an additional 528 shares during the period. Picton Mahoney Asset Management boosted its holdings in Primo Brands by 65.2% in the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after acquiring an additional 850 shares in the last quarter. Madison Asset Management LLC boosted its holdings in Primo Brands by 0.7% in the fourth 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 in the last quarter. US Bancorp DE increased its position in Primo Brands by 47.2% during the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after purchasing an additional 945 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Primo Brands by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after purchasing an additional 1,058 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Stock Down 2.4%

NYSE:PRMB opened at $22.98 on Thursday. The firm’s 50-day moving average price is $24.05 and its 200-day moving average price is $21.41. The company has a market capitalization of $8.34 billion, a PE ratio of 164.15, a P/E/G ratio of 1.99 and a beta of 0.73. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $28.48.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the business earned $0.29 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that Primo Brands Corporation will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Primo Brands’s dividend payout ratio (DPR) is currently 342.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PRMB shares. Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a research report on Thursday, April 9th. Barclays increased their price target on shares of Primo Brands from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, JPMorgan Chase & Co. upped their target price on Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Primo Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.36.

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.