Neumeier Poma Investment Counsel LLC Cuts Position in Primo Brands Corporation $PRMB

Neumeier Poma Investment Counsel LLC cut its stake in Primo Brands Corporation (NYSE:PRMB) by 13.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 868,085 shares of the company’s stock after selling 132,871 shares during the period. Neumeier Poma Investment Counsel LLC’s holdings in Primo Brands were worth $14,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Viking Global Investors LP grew its position in Primo Brands by 17.5% in the third quarter. Viking Global Investors LP now owns 23,033,970 shares of the company’s stock worth $509,051,000 after acquiring an additional 3,431,854 shares in the last quarter. Vanguard Group Inc. grew its position in Primo Brands by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 23,028,858 shares of the company’s stock worth $376,522,000 after acquiring an additional 1,053,185 shares in the last quarter. William Blair Investment Management LLC grew its position in Primo Brands by 6.7% in the fourth quarter. William Blair Investment Management LLC now owns 12,627,420 shares of the company’s stock worth $206,458,000 after acquiring an additional 793,036 shares in 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Primo Brands by 3.6% in the third quarter. Ameriprise Financial Inc. now owns 5,090,613 shares of the company’s stock worth $112,503,000 after acquiring an additional 177,929 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Brands Stock Performance

NYSE PRMB opened at $23.00 on Friday. The company has a 50-day simple moving average of $21.23 and a two-hundred day simple moving average of $19.23. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $31.49. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 164.26, a PEG ratio of 2.08 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Primo Brands Corporation will post 1.25 EPS for the current year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio is presently 342.86%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Barclays upped their target price on shares of Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Primo Brands from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Primo Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

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.