PFG Investments LLC Makes New Investment in Primo Brands Corporation $PRMB

Key Points

• PFG Investments LLC opened a new position in Primo Brands during Q4, buying 71,523 shares worth about $1.17 million, and institutional investors now own roughly 87.71% of the company.
• Primo Brands reported an EPS beat of $0.26 vs. $0.20 and revenue of $1.55 billion (up 11.2% YoY), with analysts forecasting $1.13 EPS for the fiscal year and a consensus rating of "Moderate Buy" (target $25.36).
• The company raised its quarterly dividend to $0.12 ($0.48 annualized, a 2.3% yield) despite a high dividend payout ratio of 266.67%, and the stock trades at a market cap of $7.59 billion with a P/E of 139.25.

PFG Investments LLC acquired a new position in Primo Brands Corporation (NYSE:PRMB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 71,523 shares of the company's stock, valued at approximately $1,169,000.

Several other hedge funds have also bought and sold shares of PRMB. Caption Management LLC purchased a new stake in Primo Brands in the 3rd quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new position in shares of Primo Brands during the 3rd quarter worth approximately $47,000. Blue Trust Inc. acquired a new position in shares of Primo Brands during the 3rd quarter worth approximately $57,000. GAMMA Investing LLC raised its stake in shares of Primo Brands by 76.2% during the 4th quarter. GAMMA Investing LLC now owns 3,540 shares of the company's stock worth $58,000 after buying an additional 1,531 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Primo Brands by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company's stock worth $62,000 after buying an additional 1,058 shares during the period. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Stock Up 2.7%

Shares of PRMB opened at $20.89 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95. Primo Brands Corporation has a one year low of $14.36 and a one year high of $33.71. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 139.25, a PEG ratio of 1.50 and a beta of 0.66. The stock has a 50 day moving average price of $19.80 and a 200 day moving average price of $18.91.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts forecast that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 6th. This is a positive change from Primo Brands's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. Primo Brands's dividend payout ratio (DPR) is presently 266.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRMB shares. Mizuho upped their target price on Primo Brands from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, March 5th. Zacks Research raised Primo Brands from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Deutsche Bank Aktiengesellschaft reduced their target price on Primo Brands from $24.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Barclays reduced their target price on Primo Brands from $27.00 to $24.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Primo Brands in a research note on Monday, January 5th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Primo Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.36.

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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