Dynamic Technology Lab Private Ltd Makes New Investment in Primo Brands Corporation $PRMB

Dynamic Technology Lab Private Ltd bought a new stake in shares of Primo Brands Corporation (NYSE:PRMB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 26,875 shares of the company’s stock, valued at approximately $594,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC increased its holdings in Primo Brands by 144.9% in the third quarter. Natixis Advisors LLC now owns 31,586 shares of the company’s stock valued at $698,000 after purchasing an additional 18,688 shares during the last quarter. First Trust Advisors LP boosted its holdings in Primo Brands by 25.5% during the third quarter. First Trust Advisors LP now owns 2,348,277 shares of the company’s stock worth $51,897,000 after purchasing an additional 476,976 shares during the last quarter. William Blair Investment Management LLC boosted its position in Primo Brands by 11.6% during the third quarter. William Blair Investment Management LLC now owns 11,834,384 shares of the company’s stock valued at $261,540,000 after purchasing an additional 1,231,701 shares during the last quarter. Choreo LLC acquired a new stake in shares of Primo Brands in the 3rd quarter valued at approximately $263,000. Finally, Advisor OS LLC bought a new stake in shares of Primo Brands in the 3rd quarter valued at about $229,000. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Trading Down 1.6%

NYSE PRMB opened at $21.39 on Wednesday. The firm has a market cap of $7.77 billion, a PE ratio of 142.57, a price-to-earnings-growth ratio of 1.58 and a beta of 0.61. The company has a current ratio of 0.95, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The stock has a 50-day moving average of $19.19 and a 200-day moving average of $19.71. Primo Brands Corporation has a 1-year low of $14.36 and a 1-year high of $35.85.

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

Primo Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.2%. This is a positive change from Primo Brands’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 6th. Primo Brands’s dividend payout ratio is currently 266.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $35.00 target price on shares of Primo Brands in a research note on Friday, January 23rd. JPMorgan Chase & Co. decreased their price target on Primo Brands from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, December 18th. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. The Goldman Sachs Group decreased their price target on Primo Brands from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Finally, Barclays upped their price objective on shares of Primo Brands from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Primo Brands has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Primo Brands 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.