Rockefeller Capital Management L.P. Has $3.96 Million Stock Position in Primo Brands Corporation $PRMB

Rockefeller Capital Management L.P. increased its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 2,943.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,069 shares of the company’s stock after acquiring an additional 234,114 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Primo Brands were worth $3,958,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRMB. Heartland Advisors Inc. increased its holdings in shares of Primo Brands by 96.1% during the 4th quarter. Heartland Advisors Inc. now owns 477,100 shares of the company’s stock worth $7,801,000 after purchasing an additional 233,803 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Primo Brands in the fourth quarter valued at about $11,559,000. One Rock Capital Partners LLC bought a new stake in shares of Primo Brands in the fourth quarter valued at about $1,900,047,000. William Blair Investment Management LLC grew 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 worth $261,540,000 after buying an additional 1,231,701 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Primo Brands by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 3,698,550 shares of the company’s stock worth $81,739,000 after buying an additional 751,250 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Performance

NYSE:PRMB opened at $24.86 on Friday. The firm has a market capitalization of $9.02 billion, a PE ratio of 177.58, a price-to-earnings-growth ratio of 2.15 and a beta of 0.72. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $30.98. The firm has a 50-day moving average price of $22.81 and a 200 day moving average price of $20.13.

Primo Brands (NYSE:PRMB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts anticipate that Primo Brands Corporation will post 1.25 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 1.9%. Primo Brands’s payout ratio is currently 342.86%.

Wall Street Analysts Forecast Growth

PRMB has been the subject of several recent research reports. Mizuho upped their price target on Primo Brands from $24.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, March 5th. Weiss Ratings raised Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. reduced their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, Jefferies Financial Group upgraded shares of Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, March 27th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.91.

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.