Yorktown Management & Research Co Inc Invests $238,000 in Primo Brands Corporation $PRMB

Yorktown Management & Research Co Inc purchased a new stake in shares of Primo Brands Corporation (NYSE:PRMB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,050 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors have also made changes to their positions in PRMB. Boston Partners lifted its holdings in shares of Primo Brands by 9,613.2% during the 1st quarter. Boston Partners now owns 7,117,540 shares of the company’s stock valued at $252,552,000 after buying an additional 7,044,263 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Primo Brands during the 1st quarter valued at about $184,225,000. Vanguard Group Inc. lifted its holdings in shares of Primo Brands by 28.7% during the 1st quarter. Vanguard Group Inc. now owns 19,704,538 shares of the company’s stock valued at $699,314,000 after buying an additional 4,389,327 shares during the last quarter. Samlyn Capital LLC lifted its holdings in shares of Primo Brands by 401.8% during the 1st quarter. Samlyn Capital LLC now owns 4,656,312 shares of the company’s stock valued at $165,253,000 after buying an additional 3,728,344 shares during the last quarter. Finally, Axiom Investors LLC DE acquired a new stake in shares of Primo Brands during the 1st quarter valued at about $115,081,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Performance

Shares of NYSE PRMB opened at $22.28 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $23.15 and its two-hundred day moving average is $27.68. The company has a market cap of $8.32 billion, a P/E ratio of -202.50, a P/E/G ratio of 0.61 and a beta of 0.76. Primo Brands Corporation has a 12 month low of $21.37 and a 12 month high of $35.85.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.83 billion. Primo Brands had a positive return on equity of 9.64% and a negative net margin of 1.20%.The firm’s quarterly revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. On average, equities analysts expect that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, August 21st. Primo Brands’s payout ratio is currently -363.64%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PRMB. Weiss Ratings reissued a “hold (c-)” rating on shares of Primo Brands in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.00 price objective on shares of Primo Brands in a research note on Friday, August 8th. Jefferies Financial Group began coverage on Primo Brands in a research note on Friday, October 17th. They issued a “hold” rating and a $23.00 price objective on the stock. Morgan Stanley cut their price objective on Primo Brands from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, August 11th. Finally, Bank of America cut their price objective on Primo Brands from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Primo Brands has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Insiders Place Their Bets

In other Primo Brands news, Director Michael John Cramer purchased 4,000 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $24.46 per share, with a total value of $97,840.00. Following the transaction, the director directly owned 12,762 shares in the company, valued at approximately $312,158.52. This represents a 45.65% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Robbert Rietbroek purchased 8,285 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $24.12 per share, for a total transaction of $199,834.20. Following the completion of the transaction, the chief executive officer owned 586,349 shares in the company, valued at approximately $14,142,737.88. This trade represents a 1.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 24,685 shares of company stock valued at $595,770 in the last three months. Company insiders own 58.40% of the company’s stock.

Primo Brands Profile

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.