King Luther Capital Management Corp Has $5.14 Million Position in Primo Brands Corporation $PRMB

King Luther Capital Management Corp increased its position in Primo Brands Corporation (NYSE:PRMB) by 83.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 314,096 shares of the company’s stock after buying an additional 142,695 shares during the quarter. King Luther Capital Management Corp’s holdings in Primo Brands were worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caption Management LLC acquired a new position in shares of Primo Brands in the third quarter valued at approximately $27,000. LRI Investments LLC increased its stake in shares of Primo Brands by 203.1% in the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock valued at $32,000 after buying an additional 1,306 shares during the period. GAMMA Investing LLC increased its stake 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 valued at $58,000 after buying an additional 1,531 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Primo Brands by 102.4% in 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 last quarter. Finally, US Bancorp DE grew its stake in shares of Primo Brands by 47.2% in the third quarter. US Bancorp DE now owns 2,948 shares of the company’s stock worth $65,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Trading Up 1.5%

NYSE PRMB opened at $24.89 on Friday. The business has a 50 day simple moving average of $20.70 and a 200 day simple moving average of $18.94. Primo Brands Corporation has a one year low of $14.36 and a one year high of $33.17. The stock has a market capitalization of $9.03 billion, a P/E ratio of 177.79, a P/E/G ratio of 2.13 and a beta of 0.66. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79.

Primo Brands (NYSE:PRMB) last released 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect that Primo Brands Corporation will post 1.24 earnings per share for the current year.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Thursday, June 4th will be issued a $0.12 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 1.9%. Primo Brands’s dividend payout ratio is presently 342.86%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a research note on Thursday, April 9th. Mizuho boosted their price objective on shares of Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Zacks Research raised shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. 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. Finally, Wall Street Zen raised Primo Brands from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Primo Brands currently has a consensus rating of “Moderate Buy” and an average 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.