Primo Brands Corporation Plans Quarterly Dividend of $0.12 (NYSE:PRMB)

Key Points

• Primo Brands declared a quarterly dividend of $0.12 per share, payable June 15 to shareholders of record on June 4, implying a ~2.5% yield.
• The company reported a beat with $0.26 EPS (vs. $0.20 est.) and $1.55B revenue (up 11.2% YoY), while the stock trades around $19.31 with a high P/E (~128.8) and a market cap of $7.01B.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) declared a quarterly dividend on Wednesday, April 29th. Stockholders of record on Thursday, June 4th will be paid a dividend of 0.12 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, June 4th.

Primo Brands has increased its dividend by an average of 0.0%per year over the last three years.

Primo Brands Trading Down 1.9%

Shares of Primo Brands stock traded down $0.38 during trading hours on Wednesday, hitting $19.31. The company's stock had a trading volume of 3,022,225 shares, compared to its average volume of 5,440,050. Primo Brands has a twelve month low of $14.36 and a twelve month high of $33.70. The firm has a fifty day moving average of $19.99 and a 200-day moving average of $18.78. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 128.76, a P/E/G ratio of 1.60 and a beta of 0.65. 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 (NYSE:PRMB - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.26 EPS for the quarter, beating 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company posted $0.13 EPS. The company's quarterly revenue was up 11.2% on a year-over-year basis. Research analysts forecast that Primo Brands will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Primo Brands

Several hedge funds have recently bought and sold shares of PRMB. Y Intercept Hong Kong Ltd increased its holdings in Primo Brands by 67.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 37,023 shares of the company's stock worth $697,000 after purchasing an additional 14,882 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in Primo Brands by 91.5% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 482,493 shares of the company's stock worth $9,085,000 after purchasing an additional 230,494 shares during the period. Fulton Bank N.A. increased its holdings in Primo Brands by 7.0% during the 1st quarter. Fulton Bank N.A. now owns 26,018 shares of the company's stock worth $490,000 after purchasing an additional 1,707 shares during the period. Deprince Race & Zollo Inc. increased its holdings in Primo Brands by 442.2% during the 1st quarter. Deprince Race & Zollo Inc. now owns 3,833,041 shares of the company's stock worth $72,176,000 after purchasing an additional 3,126,083 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Primo Brands during the 1st quarter worth about $413,000. Institutional investors and hedge funds own 87.71% of the company's stock.

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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