251,999 Shares in Primo Brands Corporation $PRMB Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Primo Brands Corporation (NYSE:PRMB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 251,999 shares of the company’s stock, valued at approximately $4,120,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.07% of Primo Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Caption Management LLC bought a new stake in shares of Primo Brands during the 3rd quarter valued at $27,000. LRI Investments LLC grew its stake in shares of Primo Brands by 203.1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after purchasing an additional 1,306 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Primo Brands by 102.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock worth $62,000 after purchasing an additional 1,058 shares during the period. US Bancorp DE increased its holdings in Primo Brands by 47.2% in the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock valued at $65,000 after purchasing an additional 945 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in Primo Brands in the third quarter valued at about $74,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PRMB shares. JPMorgan Chase & Co. decreased their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group raised shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Friday, March 27th. Mizuho increased their target price on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Finally, Barclays lifted their price target 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. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

Primo Brands Trading Up 0.5%

NYSE:PRMB opened at $22.60 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. The business’s 50-day simple moving average is $20.33 and its 200-day simple moving average is $18.78. Primo Brands Corporation has a fifty-two week low of $14.36 and a fifty-two week high of $33.29. The stock has a market capitalization of $8.20 billion, a PE ratio of 161.44, a price-to-earnings-growth ratio of 1.89 and a beta of 0.66.

Primo Brands (NYSE:PRMB) last posted its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.29 earnings per share. Primo Brands’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts expect that Primo Brands Corporation will post 1.28 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be issued 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 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.