Sculptor Capital LP Buys New Shares in Primo Brands Corporation $PRMB

Key Points

• Sculptor Capital LP acquired 308,000 shares of Primo Brands Corporation ($PRMB), valued at approximately $10.93 million, representing a 0.08% ownership stake in the company.
• Primo Brands reported a decrease in EPS to $0.36, missing estimates, and a revenue of $1.73 billion, which was lower than analyst expectations of $1.83 billion.
• The company declared a dividend of $0.10 per share, with an upcoming payment date set for September 4th, leading to a yield of 1.6%.

Sculptor Capital LP bought a new stake in Primo Brands Corporation (NYSE:PRMB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 308,000 shares of the company's stock, valued at approximately $10,931,000. Sculptor Capital LP owned 0.08% of Primo Brands at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Signaturefd LLC increased its holdings in shares of Primo Brands by 12.1% in the first quarter. Signaturefd LLC now owns 3,013 shares of the company's stock valued at $107,000 after purchasing an additional 325 shares during the period. GAMMA Investing LLC increased its holdings 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 valued at $69,000 after purchasing an additional 498 shares during the period. CWM LLC increased its holdings in shares of Primo Brands by 20.5% in the first quarter. CWM LLC now owns 4,975 shares of the company's stock valued at $177,000 after purchasing an additional 847 shares during the period. Parallel Advisors LLC increased its holdings 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 valued at $46,000 after purchasing an additional 902 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Primo Brands by 286.7% in the first quarter. Versant Capital Management Inc now owns 1,222 shares of the company's stock valued at $43,000 after purchasing an additional 906 shares during the period. Institutional investors and hedge funds own 87.71% of the company's stock.

Insider Transactions at Primo Brands

In related news, Director Steven P. Stanbrook purchased 12,400 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $24.04 per share, with a total value of $298,096.00. Following the completion of the acquisition, the director directly owned 125,025 shares in the company, valued at $3,005,601. The trade was a 11.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael John Cramer purchased 4,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $24.46 per share, with a total value of $97,840.00. Following the completion of the acquisition, the director owned 12,762 shares of the company's stock, valued at approximately $312,158.52. The trade was a 45.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 24,685 shares of company stock valued at $595,770 over the last three months. 58.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PRMB has been the topic of a number of analyst reports. Barclays decreased their price target on Primo Brands from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. TD Securities decreased their price target on Primo Brands from $48.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Mizuho decreased their price target on Primo Brands from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 20th. Bank of America decreased their price target on Primo Brands from $42.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Finally, Morgan Stanley decreased their price target 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. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $37.30.

Primo Brands Price Performance

PRMB traded down $0.13 during trading on Tuesday, reaching $24.98. 4,435,331 shares of the stock were exchanged, compared to its average volume of 6,771,135. The business's 50 day moving average price is $27.27 and its two-hundred day moving average price is $30.62. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.06 and a quick ratio of 0.88. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 0.66 and a beta of 0.76. Primo Brands Corporation has a 1 year low of $21.60 and a 1 year high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Primo Brands had a positive return on equity of 9.64% and a negative net margin of 1.20%.The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.83 billion. The company's revenue for the quarter was up 31.6% compared to the same quarter last year. Primo Brands has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 21st. Primo Brands's payout ratio is -363.64%.

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.