Clarkston Capital Partners LLC Buys 1,201,305 Shares of Primo Brands Corporation $PRMB

Clarkston Capital Partners LLC increased its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 52.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,476,460 shares of the company’s stock after acquiring an additional 1,201,305 shares during the quarter. Primo Brands accounts for 1.3% of Clarkston Capital Partners LLC’s portfolio, making the stock its 26th biggest position. Clarkston Capital Partners LLC’s holdings in Primo Brands were worth $56,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Xponance LLC increased its position in shares of Primo Brands by 4.2% during the 4th quarter. Xponance LLC now owns 13,114 shares of the company’s stock valued at $214,000 after purchasing an additional 528 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares during the last quarter. Madison Asset Management LLC increased its position in shares of Primo Brands by 0.7% during the 4th quarter. Madison Asset Management LLC now owns 144,435 shares of the company’s stock valued at $2,362,000 after purchasing an additional 943 shares during the last quarter. US Bancorp DE increased its position in shares of Primo Brands by 47.2% during the 3rd 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, EverSource Wealth Advisors LLC increased its position in shares of Primo Brands by 102.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after purchasing an additional 1,058 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Up 2.2%

Shares of NYSE PRMB opened at $24.06 on Friday. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $30.98. The business has a 50-day simple moving average of $21.81 and a two-hundred day simple moving average of $19.54. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. The company has a market cap of $8.73 billion, a P/E ratio of 171.87, a P/E/G ratio of 2.03 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last issued its earnings results on Thursday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.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. Research analysts anticipate that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRMB. Jefferies Financial Group raised Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, March 27th. 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. Royal Bank Of Canada set a $28.00 target price on Primo Brands in a research report on Thursday, April 9th. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.