Primo Brands Corporation $PRMB Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Primo Brands Corporation (NYSE:PRMB) by 249.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,792 shares of the company’s stock after acquiring an additional 55,505 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Primo Brands were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRMB. Viking Global Investors LP boosted its holdings in Primo Brands by 290.2% in the 2nd quarter. Viking Global Investors LP now owns 19,602,116 shares of the company’s stock valued at $580,615,000 after purchasing an additional 14,578,589 shares during the last quarter. Boston Partners lifted its holdings in Primo Brands by 13.7% in the second quarter. Boston Partners now owns 8,089,479 shares of the company’s stock valued at $239,551,000 after acquiring an additional 971,939 shares during the last quarter. Alliancebernstein L.P. grew its position in Primo Brands by 2,486.6% in the second quarter. Alliancebernstein L.P. now owns 5,867,110 shares of the company’s stock worth $173,784,000 after acquiring an additional 5,640,287 shares during the period. Third Point LLC increased its stake in Primo Brands by 108.1% during the second quarter. Third Point LLC now owns 5,775,000 shares of the company’s stock worth $171,056,000 after acquiring an additional 3,000,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Primo Brands by 32.7% in the second quarter. Ameriprise Financial Inc. now owns 4,912,684 shares of the company’s stock valued at $145,514,000 after purchasing an additional 1,210,773 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Performance

Shares of PRMB stock opened at $18.93 on Friday. The firm has a 50 day moving average of $17.04 and a two-hundred day moving average of $21.03. The stock has a market capitalization of $7.01 billion, a PE ratio of -61.06, a P/E/G ratio of 0.64 and a beta of 0.63. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 1.59. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $35.85.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Primo Brands had a positive return on equity of 12.52% and a negative net margin of 1.30%.Primo Brands’s revenue was up 35.3% on a year-over-year basis. On average, research analysts predict that Primo Brands Corporation will post 1.13 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, November 25th. Primo Brands’s dividend payout ratio (DPR) is presently -129.03%.

Primo Brands declared that its Board of Directors has approved a share repurchase program on Monday, November 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRMB. JPMorgan Chase & Co. lowered their price target on Primo Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. Zacks Research downgraded shares of Primo Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Mizuho lowered their price objective on shares of Primo Brands from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, January 8th. Barclays dropped their target price on shares of Primo Brands from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Jefferies Financial Group initiated coverage on Primo Brands in a research note on Friday, October 17th. They set a “hold” rating and a $23.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.83.

Insider Buying and Selling

In other news, Director Steven P. Stanbrook purchased 54,540 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $16.43 per share, for a total transaction of $896,092.20. Following the completion of the purchase, the director directly owned 181,601 shares of the company’s stock, valued at $2,983,704.43. The trade was a 42.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric J. Foss purchased 123,049 shares of the stock in a transaction on Tuesday, November 11th. The shares were purchased at an average price of $15.52 per share, with a total value of $1,909,720.48. Following the acquisition, the chief executive officer directly owned 355,066 shares in the company, valued at $5,510,624.32. This represents a 53.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 203,469 shares of company stock valued at $3,214,674. Corporate insiders own 58.40% of the company’s stock.

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.