CenterBook Partners LP Purchases New Position in Primo Brands Corporation $PRMB

CenterBook Partners LP acquired a new stake in Primo Brands Corporation (NYSE:PRMB) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 385,080 shares of the company’s stock, valued at approximately $7,336,000. CenterBook Partners LP owned approximately 0.11% of Primo Brands at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Primo Brands by 57.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,050,888 shares of the company’s stock worth $133,050,000 after purchasing an additional 2,585,164 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Primo Brands by 41.7% during the first quarter. Bank of America Corp DE now owns 6,067,351 shares of the company’s stock valued at $114,248,000 after buying an additional 1,785,259 shares during the last quarter. KBC Group NV increased its holdings in Primo Brands by 49.2% in the 1st quarter. KBC Group NV now owns 5,041,625 shares of the company’s stock worth $94,934,000 after buying an additional 1,661,569 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Primo Brands by 2,881.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,954,180 shares of the company’s stock worth $37,227,000 after buying an additional 1,888,636 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Primo Brands by 226.7% in the 2nd quarter. Tidal Investments LLC now owns 1,150,675 shares of the company’s stock worth $28,122,000 after buying an additional 798,488 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Performance

PRMB stock traded up $0.20 during trading on Friday, reaching $22.36. The stock had a trading volume of 4,999,084 shares, compared to its average volume of 5,003,594. The firm has a market cap of $8.10 billion, a PE ratio of 39.92, a PEG ratio of 2.10 and a beta of 0.73. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The stock’s 50 day moving average is $20.31 and its two-hundred day moving average is $21.46. Primo Brands Corporation has a 52 week low of $14.36 and a 52 week high of $26.21.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the company posted $0.41 EPS. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Primo Brands Corporation will post 1.27 earnings per share for the current year.

Primo Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, November 24th. Primo Brands’s payout ratio is 184.62%.

Key Primo Brands News

Here are the key news stories impacting Primo Brands this week:

• Positive Sentiment: Primo Brands earned $0.43 per share, topping the $0.42 consensus estimate, while revenue of $1.82 billion exceeded expectations of $1.81 billion and rose 3.1% year over year. Article
• Positive Sentiment: Premium water revenue surged 24.3%, free cash flow improved, and the 2026 sales-growth outlook is approaching 3%—signs of resilience in a key growth category. Article
• Positive Sentiment: The company declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a reported yield of 2.2%. Article
• Neutral Sentiment: An earnings-call recap characterized the quarter as signaling recovery and growth, though the available report provides limited additional detail. Article
• Negative Sentiment: A previously announced equity buyback plan has expired, potentially removing a source of share-repurchase support; the report does not indicate whether Primo Brands plans a replacement program. Article

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PRMB shares. Zacks Research downgraded shares of Primo Brands from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of Primo Brands in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Primo Brands in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $21.00 price objective on shares of Primo Brands in a research report on Monday, October 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Primo Brands from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Primo Brands presently has a consensus rating of “Moderate Buy” and an average target price of $27.55.

Insider Transactions at Primo Brands

In other Primo Brands news, CEO Eric Foss purchased 84,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $23.80 per share, for a total transaction of $1,999,200.00. Following the completion of the transaction, the chief executive officer owned 573,806 shares of the company’s stock, valued at approximately $13,656,582.80. The trade was a 17.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 32.90% of the company’s stock.

Primo Brands Company Profile

Primo Brands Corporation is a beverage company focused on providing water and hydration products across North America. The company offers bottled water, water dispensers, refill services, filtration products and other beverage options for households, businesses and retail customers.

Its portfolio includes well-known regional and national water brands such as Poland Spring, Deer Park, Ice Mountain, Arrowhead, Ozarka, Zephyrhills, Pure Life and Primo. Products are distributed through retail stores, direct delivery, e-commerce and workplace and residential water services.

Primo Brands was created through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.