Bank of America Corp DE Boosts Holdings in Primo Brands Corporation $PRMB
Bank of America Corp DE grew its holdings in shares of Primo Brands Corporation (NYSE:PRMB - Free Report) by 41. 7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,067,351 shares of the company's stock a
Bank of America Corp DE grew its holdings in shares of Primo Brands Corporation (NYSE:PRMB-Free Report) by 41. 7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,067,351 shares of the company's stock after acquiring an additional 1,785,259 shares during the period. Bank of America Corp DE owned about 1. 67% of Primo Brands worth $114,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC). GetPrimo Brandsalerts:Other hedge funds have also bought and sold shares of the company. Caption Management LLC bought a new position in Primo Brands in the 3rd quarter worth $27,000. LRI Investments LLC grew its position in shares of Primo Brands by 203. 1% during the fourth quarter. LRI Investments LLC now owns 1,949 shares of the company's stock worth $32,000 after purchasing an additional 1,306 shares in the last quarter. Picton Mahoney Asset Management raised its stake in Primo Brands by 65. 2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company's stock valued at $35,000 after purchasing an additional 850 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Primo Brands by 76. 9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company's stock worth $37,000 after purchasing an additional 853 shares in the last quarter. Finally, Quarry LP lifted its holdings in Primo Brands by 516. 6% in the 4th quarter. Quarry LP now owns 2,380 shares of the company's stock worth $39,000 after purchasing an additional 1,994 shares in the last quarter. Institutional investors own 87. 71% of the company's stock. Analyst Ratings ChangesSeveral equities research analysts have recently issued reports on the stock. Weiss Ratingsupgraded shares of Primo Brands from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Royal Bank Of Canada raised their target price on shares of Primo Brands from $28. 00 to $31. 00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zenupgraded shares of Primo Brands from a "sell" rating to a "hold" rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. raised their price objective on Primo Brands from $26. 00 to $29. 00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $29. 00 target price on shares of Primo Brands in a report on Friday. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat. com, Primo Brands presently has an average rating of "Moderate Buy" and an average target price of $28. 25. Check Out Our Latest Report on PRMBPrimo Brands Stock PerformanceShares ofNYSE:PRMBopened at $23. 62 on Friday. Primo Brands Corporation has a 52 week low of $14. 36 and a 52 week high of $26. 21. The stock has a market capitalization of $8. 56 billion, a P/E ratio of 90. 83, a PEG ratio of 1. 81 and a beta of 0. 74. The firm has a fifty day simple moving average of $23. 96 and a two-hundred day simple moving average of $21. 64. The company has a quick ratio of 0. 79, a current ratio of 1. 05 and a debt-to-equity ratio of 1. 71. Primo Brands (NYSE:PRMB-Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0. 37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0. 32 by $0. 05. The firm had revenue of $1. 80 billion for the quarter, compared to analysts' expectations of $1. 77 billion. Primo Brands had a net margin of 1. 49% and a return on equity of 14. 24%. The business's revenue was up 3. 8% compared to the same quarter last year. During the same period in the prior year, the company earned $0. 36 EPS. On average, analysts expect that Primo Brands Corporation will post 1. 25 earnings per share for the current fiscal year. Primo Brands Announces DividendThe business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 24th will be issued a $0. 12 dividend. The ex-dividend date is Monday, August 24th. This represents a $0. 48 dividend on an annualized basis and a dividend yield of 2. 0%. Primo Brands's payout ratio is 342. 86%. Primo Brands Company Profile(Free Report)Primo BrandsNYSE: PRMBis 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. Read MoreFive stocks we like better than Primo BrandsDatadog’s Drop Says More About Expectations Than EarningsD-Wave's Quantum Breakthrough Couldn't Save QBTS From a Sell-OffCloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in FocusSolventum Nears Inflection Point As It Begins to Unlock ValueThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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