Primo Brands Corporation $PRMB Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring reduced its Primo Brands stake by 5.5%, selling 388,465 shares in the third quarter; it still held 6.67 million shares, worth about $127 million. Institutional investors own 87.71% of the stock.
• Primo Brands reported quarterly EPS of $0.43, beating the $0.42 consensus, and revenue of $1.82 billion, slightly above estimates and up 3.1% year over year.
• The company declared a quarterly dividend of $0.12 per share ($0.48 annualized). Analysts’ consensus rating is “Moderate Buy,” with an average price target of $27.55.

Allspring Global Investments Holdings LLC cut its stake in Primo Brands Corporation (NYSE:PRMB - Free Report) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,666,016 shares of the company's stock after selling 388,465 shares during the period. Allspring Global Investments Holdings LLC owned about 1.84% of Primo Brands worth $126,988,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PRMB. EverSource Wealth Advisors LLC raised its stake in shares of Primo Brands by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company's stock valued at $37,000 after acquiring an additional 853 shares in the last quarter. Glenmede Trust Co. NA raised its position in Primo Brands by 5.3% during the 1st quarter. Glenmede Trust Co. NA now owns 21,227 shares of the company's stock valued at $400,000 after purchasing an additional 1,075 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of 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 buying an additional 1,202 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Primo Brands by 13.9% in the 1st quarter. Sanctuary Advisors LLC now owns 12,309 shares of the company's stock worth $232,000 after buying an additional 1,502 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Primo Brands in the 2nd quarter worth $37,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Trading Down 0.2%

PRMB opened at $22.36 on Monday. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 2.26 and a beta of 0.73. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $26.21. The stock has a fifty day moving average price of $20.31 and a 200-day moving average price of $21.46.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.01. Primo Brands had a return on equity of 14.64% and a net margin of 3.06%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Primo Brands Corporation will post 1.27 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, November 24th. Primo Brands's dividend payout ratio (DPR) is currently 85.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRMB. TD raised their price target on Primo Brands from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $21.00 price objective on Primo Brands in a report on Monday, October 19th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Primo Brands in a research note on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Primo Brands in a report on Wednesday. Finally, Zacks Research downgraded shares of Primo Brands from a "hold" rating to a "strong sell" rating in a research report on Friday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.55.

Primo Brands News Summary

Here are the key news stories impacting Primo Brands this week:

• Positive Sentiment: Primo Brands earned $0.43 per share, topping the $0.42 consensus estimate, while revenue of $1.82 billion exceeded expectations of $1.81 billion and rose 3.1% year over year. Article
• Positive Sentiment: Premium water revenue surged 24.3%, free cash flow improved, and the 2026 sales-growth outlook is approaching 3%—signs of resilience in a key growth category. Article
• Positive Sentiment: The company declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a reported yield of 2.2%. Article
• Neutral Sentiment: An earnings-call recap characterized the quarter as signaling recovery and growth, though the available report provides limited additional detail. Article
• Negative Sentiment: A previously announced equity buyback plan has expired, potentially removing a source of share-repurchase support; the report does not indicate whether Primo Brands plans a replacement program. Article

About Primo Brands

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses.

The company's portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses.

Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.

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