Fort Point Capital Partners LLC Has $948,000 Stock Position in Primo Brands Corporation $PRMB

Fort Point Capital Partners LLC decreased its position in Primo Brands Corporation (NYSE:PRMB) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,961 shares of the company’s stock after selling 57,961 shares during the period. Fort Point Capital Partners LLC’s holdings in Primo Brands were worth $948,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Bullseye Asset Management LLC raised its holdings in Primo Brands by 5.3% in the 4th quarter. Bullseye Asset Management LLC now owns 300,445 shares of the company’s stock valued at $4,912,000 after acquiring an additional 15,187 shares in the last quarter. FORA Capital LLC raised its holdings in shares of Primo Brands by 50.8% in the 4th quarter. FORA Capital LLC now owns 87,076 shares of the company’s stock worth $1,424,000 after buying an additional 29,344 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Primo Brands in the 4th quarter worth approximately $4,094,000. The Manufacturers Life Insurance Company raised its holdings in shares of Primo Brands by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 62,222 shares of the company’s stock worth $1,017,000 after buying an additional 2,753 shares in the last quarter. Finally, Samjo Management LLC raised its holdings in shares of Primo Brands by 159.9% in the 4th quarter. Samjo Management LLC now owns 272,975 shares of the company’s stock worth $4,463,000 after buying an additional 167,925 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft dropped their target price on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a report on Monday, March 30th. Mizuho increased their target price on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. JPMorgan Chase & Co. dropped their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Royal Bank Of Canada set a $28.00 target price on Primo Brands in a report on Thursday, April 9th. Finally, Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.91.

Primo Brands Stock Up 2.2%

Shares of PRMB opened at $24.06 on Friday. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 171.87, a PEG ratio of 2.08 and a beta of 0.72. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.79 and a current ratio of 0.98. The business’s fifty day moving average price is $21.81 and its two-hundred day moving average price is $19.54. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $30.98.

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

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

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.