111 Capital Buys Shares of 15,134 Primo Brands Corporation $PRMB

Key Points

• 111 Capital has acquired a stake in Primo Brands Corporation by purchasing 15,134 shares valued at approximately $448,000.
• CEO Robbert Rietbroek and Director Steven P. Stanbrook made significant **insider purchases**, increasing their ownership in the company by 1.43% and 11.01%, respectively.
• Primo Brands reported **earnings per share** (EPS) of $0.36 for the last quarter, which missed analysts' expectations, with a **negative net margin** of 1.20% alongside revenue growth of 31.6% year-over-year.

111 Capital bought a new stake in Primo Brands Corporation (NYSE:PRMB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,134 shares of the company's stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc acquired a new stake in shares of Primo Brands in the first quarter worth $40,000. New Age Alpha Advisors LLC acquired a new stake in shares of Primo Brands in the first quarter worth $43,000. Parallel Advisors LLC lifted its stake in shares of Primo Brands by 225.5% in the first quarter. Parallel Advisors LLC now owns 1,302 shares of the company's stock worth $46,000 after buying an additional 902 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Primo Brands in the first quarter worth $54,000. Finally, GAMMA Investing LLC lifted its stake in shares of Primo Brands by 34.5% in the first quarter. GAMMA Investing LLC now owns 1,942 shares of the company's stock worth $69,000 after buying an additional 498 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, CEO Robbert Rietbroek purchased 8,285 shares of the stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $24.12 per share, with a total value of $199,834.20. Following the acquisition, the chief executive officer directly owned 586,349 shares of the company's stock, valued at $14,142,737.88. This represents a 1.43% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven P. Stanbrook purchased 12,400 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $24.04 per share, for a total transaction of $298,096.00. Following the acquisition, the director directly owned 125,025 shares in the company, valued at approximately $3,005,601. This trade represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 24,685 shares of company stock valued at $595,770 in the last 90 days. 58.40% of the stock is currently owned by company insiders.

Primo Brands Trading Up 0.3%

Shares of PRMB stock opened at $22.09 on Monday. Primo Brands Corporation has a 1 year low of $21.56 and a 1 year high of $35.85. The firm's fifty day simple moving average is $24.39 and its 200 day simple moving average is $29.08. The firm has a market capitalization of $8.25 billion, a P/E ratio of -200.85, a price-to-earnings-growth ratio of 0.58 and a beta of 0.76. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (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 negative net margin of 1.20% and a positive return on equity of 9.64%. Primo Brands's revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued 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 -363.64%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PRMB. Morgan Stanley reduced their price objective on shares of Primo Brands from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Monday, August 11th. Barclays reduced their price objective on shares of Primo Brands from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. The Goldman Sachs Group initiated coverage on shares of Primo Brands in a research report on Thursday, September 11th. They set a "neutral" rating and a $25.00 target price on the stock. Bank of America dropped their target price on shares of Primo Brands from $42.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Finally, Mizuho dropped their target price on shares of Primo Brands from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.18.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.