Clarkston Capital Partners LLC Buys 1,201,305 Shares of Primo Brands Corporation $PRMB

Key Points

• Clarkston Capital Partners increased its Primo Brands stake by 52.8% in Q4, buying 1.2 million more shares and bringing its holding to 3.48 million shares worth about $56.8 million.
• Institutional ownership remains high, with 87.71% of Primo Brands shares held by institutions; several other funds also added to their positions during the quarter.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $25.91, while Primo Brands also recently reported earnings of $0.23 per share on revenue of $1.63 billion and declared a $0.12 quarterly dividend.

Clarkston Capital Partners LLC boosted its stake in Primo Brands Corporation (NYSE:PRMB - Free Report) by 52.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,476,460 shares of the company's stock after acquiring an additional 1,201,305 shares during the period. Primo Brands accounts for 1.3% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 26th largest holding. Clarkston Capital Partners LLC owned about 0.94% of Primo Brands worth $56,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Primo Brands by 21,481.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company's stock valued at $39,000 after acquiring an additional 2,363 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Primo Brands by 18.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 880,620 shares of the company's stock valued at $14,398,000 after acquiring an additional 140,054 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Primo Brands by 3.5% in the fourth quarter. Wells Fargo & Company MN now owns 31,041 shares of the company's stock valued at $508,000 after acquiring an additional 1,058 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in Primo Brands by 16.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 69,085 shares of the company's stock valued at $1,130,000 after acquiring an additional 9,697 shares during the last quarter. Finally, HRT Financial LP boosted its holdings in Primo Brands by 6,832.0% in the fourth quarter. HRT Financial LP now owns 812,020 shares of the company's stock valued at $13,276,000 after acquiring an additional 800,306 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRMB has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on Primo Brands from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Primo Brands from $24.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Barclays boosted their price target on Primo Brands from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Weiss Ratings raised Primo Brands from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada set a $28.00 price target on Primo Brands in a research note on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $25.91.

Primo Brands Price Performance

Shares of NYSE:PRMB opened at $24.06 on Friday. The stock's 50 day moving average is $21.81 and its 200-day moving average is $19.54. Primo Brands Corporation has a twelve month low of $14.36 and a twelve month high of $30.98. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 171.87, a PEG ratio of 2.03 and a beta of 0.72. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72.

Primo Brands (NYSE:PRMB - Get Free Report) last announced 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 company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company posted $0.29 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Primo Brands Corporation will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 2.0%. Primo Brands's dividend payout ratio is 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.

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