Primo Brands Corporation $PRMB Stock Holdings Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 1,569.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,568 shares of the company’s stock after purchasing an additional 115,225 shares during the period. Sterling Capital Management LLC’s holdings in Primo Brands were worth $2,335,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Harbor Investment Advisory LLC purchased a new stake in shares of Primo Brands during the second quarter valued at $37,000. EverSource Wealth Advisors LLC increased its stake in Primo Brands by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock worth $37,000 after purchasing an additional 853 shares in the last quarter. CX Institutional purchased a new position in Primo Brands in the 3rd quarter worth about $38,000. IFP Advisors Inc increased its stake in Primo Brands by 64.4% in the 2nd quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock worth $75,000 after purchasing an additional 1,202 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in Primo Brands during the 2nd quarter worth about $88,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Price Performance

PRMB opened at $19.75 on Monday. The stock has a fifty day moving average of $20.85 and a 200-day moving average of $22.24. The firm has a market capitalization of $7.16 billion, a P/E ratio of 75.95, a PEG ratio of 1.99 and a beta of 0.71. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $26.21. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.71.

Primo Brands (NYSE:PRMB) last issued its earnings results on Wednesday, August 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm posted $0.36 earnings per share. Primo Brands’s revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Primo Brands Corporation will post 1.27 EPS for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 24th. Primo Brands’s payout ratio is presently 184.62%.

Insider Transactions at Primo Brands

In other Primo Brands news, CEO Eric Foss acquired 84,000 shares of Primo Brands stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $23.80 per share, with a total value of $1,999,200.00. Following the purchase, the chief executive officer owned 573,806 shares in the company, valued at approximately $13,656,582.80. The trade was a 17.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 32.90% of the company’s stock.

Analysts Set New Price Targets

PRMB has been the topic of several recent analyst reports. TD boosted their price objective on Primo Brands from $29.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Morgan Stanley reissued an “overweight” rating and issued a $29.00 target price on shares of Primo Brands in a research report on Friday, August 7th. TD Cowen reissued a “buy” rating on shares of Primo Brands in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Primo Brands in a report on Friday, August 7th. Ten 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.82.

About Primo Brands

Primo Brands Corporation is a beverage company focused on providing water and hydration products across North America. The company offers bottled water, water dispensers, refill services, filtration products and other beverage options for households, businesses and retail customers.

Its portfolio includes well-known regional and national water brands such as Poland Spring, Deer Park, Ice Mountain, Arrowhead, Ozarka, Zephyrhills, Pure Life and Primo. Products are distributed through retail stores, direct delivery, e-commerce and workplace and residential water services.

Primo Brands was created through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.