Primo Brands Corporation $PRMB Stock Holdings Increased by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 32.0% during the second quarter, Holdings Channel.com reports. The firm owned 163,916 shares of the company’s stock after acquiring an additional 39,711 shares during the period. WINTON GROUP Ltd’s holdings in Primo Brands were worth $4,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Primo Brands during the 1st quarter valued at about $229,000. Caxton Associates LLP purchased a new stake in Primo Brands in the 1st quarter worth approximately $266,000. American Century Companies Inc. boosted its position in Primo Brands by 9.3% during the second quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock valued at $806,000 after purchasing an additional 2,318 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Primo Brands by 797.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after buying an additional 48,509 shares during the last quarter. Finally, Invesco Ltd. grew its position in Primo Brands by 29.1% in the second quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock worth $8,931,000 after acquiring an additional 67,930 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $25.00 price objective on shares of Primo Brands in a report on Thursday, August 6th. 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 lifted their price target on shares of Primo Brands from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $29.00 price objective on shares of Primo Brands in a research note on Friday, August 7th. Finally, Barclays increased their target price on shares of Primo Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Primo Brands Price Performance

Shares of PRMB stock opened at $20.55 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.71. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 79.04, a PEG ratio of 1.43 and a beta of 0.73. The stock has a 50-day moving average price of $23.40 and a 200 day moving average price of $22.33. Primo Brands Corporation has a 12 month low of $14.36 and a 12 month high of $26.21.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. Primo Brands had a net margin of 1.49% and a return on equity of 14.24%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $0.36 earnings per share. Primo Brands’s revenue was up 3.8% compared to the same quarter last year. Research analysts expect that Primo Brands Corporation will post 1.27 EPS for the current year.

Primo Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, August 24th. Primo Brands’s payout ratio is presently 184.62%.

Insider Activity at Primo Brands

In related news, CEO Eric Foss purchased 84,000 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $23.80 per share, with a total value of $1,999,200.00. Following the purchase, the chief executive officer directly owned 573,806 shares in the company, valued at $13,656,582.80. The trade was a 17.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 32.90% of the stock is currently owned by company insiders.

Primo Brands Company Profile

Primo Brands Corporation (NYSE: PRMB) is a North American beverage company focused on providing bottled water, water dispensers, water filtration products and related hydration services. Its offerings include spring, purified and mineral water, as well as refillable and reusable water solutions for households, businesses and other organizations.

The company sells its products through retail, direct delivery and exchange programs, including home and office delivery and services connected with water dispensers.