Primo Brands Corporation $PRMB Holdings Raised by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC increased its holdings in Primo Brands Corporation (NYSE:PRMB) by 15.1% in the third quarter, Holdings Channel reports. The fund owned 201,571 shares of the company’s stock after purchasing an additional 26,436 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Primo Brands were worth $3,840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Primo Brands by 76.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock worth $37,000 after purchasing an additional 853 shares during the period. Glenmede Trust Co. NA raised its stake in Primo Brands by 5.3% in the first quarter. Glenmede Trust Co. NA now owns 21,227 shares of the company’s stock worth $400,000 after buying an additional 1,075 shares in the last quarter. IFP Advisors Inc raised its stake in Primo Brands by 64.4% in the second quarter. IFP Advisors Inc now owns 3,069 shares of the company’s stock worth $75,000 after buying an additional 1,202 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Primo Brands by 13.9% in the first quarter. Sanctuary Advisors LLC now owns 12,309 shares of the company’s stock worth $232,000 after buying an additional 1,502 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in Primo Brands during the second quarter worth $37,000. 87.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PRMB. Zacks Research downgraded Primo Brands from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. Morgan Stanley reduced their target price on shares of Primo Brands from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating on shares of Primo Brands in a research report on Wednesday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Primo Brands from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, TD Cowen restated a “buy” rating on shares of Primo Brands in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.82.

Primo Brands Stock Down 0.4%

Shares of PRMB stock opened at $24.03 on Wednesday. Primo Brands Corporation has a 1-year low of $14.80 and a 1-year high of $26.21. The stock’s fifty day moving average price is $20.35 and its 200 day moving average price is $21.51. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 2.77 and a beta of 0.73.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. Primo Brands had a return on equity of 14.55% and a net margin of 3.06%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, research analysts expect that Primo Brands Corporation will post 1.27 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Primo Brands’s payout ratio is presently 85.71%.

Primo Brands Company Profile

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses. The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses. Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.