Primo Brands Corporation $PRMB Stock Position Raised by Oak Thistle LLC

by · The Markets Daily

Oak Thistle LLC increased its stake in Primo Brands Corporation (NYSE:PRMB – Free Report) by 301.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,045 shares of the company’s stock after acquiring an additional 39,820 shares during the quarter. Oak Thistle LLC’s holdings in Primo Brands were worth $867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Caption Management LLC purchased a new position in Primo Brands in the 3rd quarter worth about $27,000. Byrne Asset Management LLC purchased a new stake in Primo Brands during the third quarter valued at about $47,000. 1620 Investment Advisors Inc. purchased a new stake in Primo Brands during the third quarter valued at about $54,000. Blue Trust Inc. acquired a new position in shares of Primo Brands in the third quarter worth about $57,000. Finally, GAMMA Investing LLC increased its position in shares of Primo Brands by 76.2% in the fourth quarter. GAMMA Investing LLC now owns 3,540 shares of the company’s stock worth $58,000 after acquiring an additional 1,531 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PRMB shares. Royal Bank Of Canada set a $28.00 price target on shares of Primo Brands in a report on Thursday. Mizuho lifted their price objective on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. TD Securities boosted their target price on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft reduced their target price on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. decreased their target price on Primo Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, December 18th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.64.

Get Our Latest Research Report on PRMB

Primo Brands Stock Down 2.6%

Primo Brands stock opened at $19.63 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $35.14. The firm’s fifty day simple moving average is $19.72 and its 200-day simple moving average is $18.99. The company has a market capitalization of $7.13 billion, a P/E ratio of 130.85, a P/E/G ratio of 1.55 and a beta of 0.66.

Primo Brands (NYSE:PRMB – Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. Primo Brands had a net margin of 0.90% and a return on equity of 14.52%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts forecast that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Primo Brands’s previous quarterly dividend of $0.10. Primo Brands’s payout ratio is currently 266.67%.

Primo Brands Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primo Brands Corporation (NYSE:PRMB – Free Report).