Aberdeen Group plc Buys Shares of 734,859 Primo Brands Corporation $PRMB

Key Points

• Aberdeen Group bought a new stake of 734,859 shares in Primo Brands (NYSE:PRMB) in Q4, valued at about $12.0 million, while institutional investors own roughly 87.7% of the stock.
• Analysts are broadly positive—nine Buys and four Holds—giving PRMB a consensus rating of "Moderate Buy" and an average price target of $25.45, with recent notable actions including a Jefferies upgrade to Buy and mixed price-target changes from Deutsche Bank and Barclays.
• Primo Brands beat quarterly expectations (EPS $0.26 vs. $0.20) with revenue up 11.2% year-over-year to $1.55B, and it raised its quarterly dividend to $0.12 (annualized $0.48, ~2.6% yield).

Aberdeen Group plc bought a new stake in shares of Primo Brands Corporation (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 734,859 shares of the company's stock, valued at approximately $12,015,000. Aberdeen Group plc owned about 0.20% of Primo Brands at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PRMB. Dynamic Advisor Solutions LLC boosted its stake in Primo Brands by 1.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 47,067 shares of the company's stock worth $1,040,000 after buying an additional 567 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Primo Brands by 47.2% in the 3rd quarter. US Bancorp DE now owns 2,948 shares of the company's stock worth $65,000 after acquiring an additional 945 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company's stock worth $62,000 after acquiring an additional 1,058 shares during the last quarter. Caption Management LLC bought a new stake in shares of Primo Brands in the 3rd quarter worth approximately $27,000. Finally, Phoenix Financial Ltd. lifted its holdings in shares of Primo Brands by 14.6% in the 3rd quarter. Phoenix Financial Ltd. now owns 10,151 shares of the company's stock worth $224,000 after acquiring an additional 1,292 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRMB has been the subject of a number of recent research reports. Morgan Stanley restated an "overweight" rating on shares of Primo Brands in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Primo Brands from $24.00 to $19.00 and set a "hold" rating for the company in a report on Monday, March 30th. BMO Capital Markets restated an "outperform" rating and issued a $35.00 price objective on shares of Primo Brands in a report on Friday, January 23rd. Jefferies Financial Group upgraded shares of Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a report on Friday, March 27th. Finally, Barclays boosted their price objective on shares of Primo Brands from $21.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Nine investment 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, Primo Brands presently has an average rating of "Moderate Buy" and an average price target of $25.45.

Primo Brands Stock Performance

Shares of NYSE:PRMB opened at $18.32 on Wednesday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 122.10, a price-to-earnings-growth ratio of 1.44 and a beta of 0.66. The company has a 50-day moving average price of $19.67 and a 200-day moving average price of $19.00. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $35.14.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.6%. This is a positive change from Primo Brands's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 6th. Primo Brands's payout ratio is currently 266.67%.

About Primo Brands

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.

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