Polar Asset Management Partners Inc. Has $10.17 Million Stock Holdings in Primo Brands Corporation $PRMB

Polar Asset Management Partners Inc. cut its holdings in Primo Brands Corporation (NYSE:PRMB) by 10.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 540,081 shares of the company’s stock after selling 60,619 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.15% of Primo Brands worth $10,170,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Heartland Advisors Inc. grew its stake in Primo Brands by 96.1% during the fourth quarter. Heartland Advisors Inc. now owns 477,100 shares of the company’s stock worth $7,801,000 after buying an additional 233,803 shares in the last quarter. One Rock Capital Partners LLC bought a new stake in shares of Primo Brands during the fourth quarter worth $1,900,047,000. Deprince Race & Zollo Inc. bought a new stake in Primo Brands during the 4th quarter worth $11,559,000. KBC Group NV grew its holdings in shares of Primo Brands by 12.5% during the fourth quarter. KBC Group NV now owns 3,380,056 shares of the company’s stock worth $55,264,000 after purchasing an additional 376,855 shares during the last quarter. Finally, Aberdeen Group plc acquired a new position in Primo Brands in the 4th quarter valued at approximately $12,015,000. Institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PRMB shares. Barclays increased their price target on Primo Brands from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Wall Street Zen raised 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 Primo Brands in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Finally, JPMorgan Chase & Co. increased their price target on Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Primo Brands has an average rating of “Moderate Buy” and an average target price of $26.36.

Primo Brands Stock Up 0.1%

Primo Brands stock opened at $22.72 on Monday. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 162.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.73. The firm’s fifty day moving average price is $24.03 and its two-hundred day moving average price is $21.28. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $29.02. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 1.72.

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

Primo Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, June 4th. Primo Brands’s dividend payout ratio is currently 342.86%.

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.