Deprince Race & Zollo Inc. Takes Position in Primo Brands Corporation $PRMB

Key Points

• Deprince Race & Zollo bought 706,958 shares of Primo Brands (NYSE:PRMB) in Q4 — a stake valued at about $11.56 million, while institutional investors collectively own roughly 87.71% of the company.
• Primo Brands beat Q4 expectations with $0.26 EPS vs. $0.20 est. and $1.55 billion in revenue (up 11.2% year-over-year), and analysts expect about $1.13 in EPS for the current year.
• The company raised its quarterly dividend to $0.12 (annualized $0.48, yield ~2.5%) despite a reported payout ratio of 266.7%, and the stock carries a high valuation (market cap ~$7.05B; P/E ~129.4) with a consensus price target of about $25.64 and a “Moderate Buy” average rating.

Deprince Race & Zollo Inc. acquired a new stake in shares of Primo Brands Corporation (NYSE:PRMB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 706,958 shares of the company's stock, valued at approximately $11,559,000. Deprince Race & Zollo Inc. owned approximately 0.19% of Primo Brands as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caption Management LLC purchased a new position in shares of Primo Brands during the third quarter valued at about $27,000. Byrne Asset Management LLC bought a new position in shares of Primo Brands in the 3rd quarter valued at about $47,000. 1620 Investment Advisors Inc. bought a new position in shares of Primo Brands in the 3rd quarter valued at about $54,000. Blue Trust Inc. bought a new position in shares of Primo Brands in the 3rd quarter valued at about $57,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Primo Brands by 76.2% in the 4th quarter. GAMMA Investing LLC now owns 3,540 shares of the company's stock valued at $58,000 after acquiring an additional 1,531 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Stock Down 1.0%

Shares of NYSE PRMB opened at $19.41 on Tuesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.95 and a quick ratio of 0.78. The company has a market cap of $7.05 billion, a P/E ratio of 129.42, a PEG ratio of 1.44 and a beta of 0.66. Primo Brands Corporation has a 1 year low of $14.36 and a 1 year high of $35.14. The firm has a 50-day simple moving average of $19.73 and a two-hundred day simple moving average of $18.92.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The business 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 firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Research analysts anticipate that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 6th. This is an increase from Primo Brands's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 2.5%. Primo Brands's payout ratio is 266.67%.

Analyst Ratings Changes

PRMB has been the subject of a number of analyst reports. Zacks Research raised shares of Primo Brands from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of Primo Brands in a report on Monday, January 5th. Jefferies Financial Group raised shares of Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a report on Friday, March 27th. JPMorgan Chase & Co. lowered their price target on shares of Primo Brands from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, December 18th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $35.00 price target on shares of Primo Brands in a report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $25.64.

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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