Primo Brands Corporation $PRMB Stock Holdings Boosted by Advantage Alpha Capital Partners LP

Key Points

• Advantage Alpha Capital Partners LP increased its stake in Primo Brands Corporation by 28.4%, holding 229,178 shares worth approximately $8.1 million, making it the third largest position in their portfolio.
• Insider purchases include Director Steven P. Stanbrook acquiring 12,400 shares at $24.04 each, raising his ownership in the company, while total insider purchases in the last 90 days reached 24,685 shares.
• Primo Brands' recent earnings report revealed an EPS of $0.36, missing the consensus estimate and showing a year-over-year revenue growth of 31.6%, with a current dividend yield of 1.6%.

Advantage Alpha Capital Partners LP grew its holdings in Primo Brands Corporation (NYSE:PRMB - Free Report) by 28.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 229,178 shares of the company's stock after acquiring an additional 50,681 shares during the quarter. Primo Brands accounts for approximately 2.0% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 3rd biggest position. Advantage Alpha Capital Partners LP owned about 0.06% of Primo Brands worth $8,134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PRMB. IFP Advisors Inc bought a new stake in Primo Brands during the first quarter worth about $40,000. Versant Capital Management Inc lifted its holdings in shares of Primo Brands by 286.7% in the 1st quarter. Versant Capital Management Inc now owns 1,222 shares of the company's stock worth $43,000 after purchasing an additional 906 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Primo Brands during the 1st quarter valued at $43,000. Parallel Advisors LLC increased its holdings in Primo Brands by 225.5% in the 1st quarter. Parallel Advisors LLC now owns 1,302 shares of the company's stock worth $46,000 after acquiring an additional 902 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Primo Brands in the 1st quarter worth about $54,000. Institutional investors own 87.71% of the company's stock.

Insiders Place Their Bets

In related news, Director Michael John Cramer purchased 4,000 shares of Primo Brands stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $24.46 per share, with a total value of $97,840.00. Following the transaction, the director owned 12,762 shares in the company, valued at approximately $312,158.52. The trade was a 45.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven P. Stanbrook purchased 12,400 shares of Primo Brands 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 transaction, the director owned 125,025 shares in the company, valued at approximately $3,005,601. This represents a 11.01% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 24,685 shares of company stock worth $595,770. 58.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PRMB has been the subject of a number of research analyst reports. Zacks Research downgraded Primo Brands from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Bank of America dropped their target price on Primo Brands from $42.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Morgan Stanley dropped their target price on Primo Brands from $38.00 to $35.00 and set an "overweight" rating for the company in a research report on Monday, August 11th. Mizuho lowered their price objective on Primo Brands from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, August 20th. Finally, Barclays lowered their price objective on Primo Brands from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Primo Brands presently has an average rating of "Moderate Buy" and a consensus price target of $37.30.

Primo Brands Stock Performance

NYSE:PRMB traded up $0.44 on Wednesday, hitting $25.30. The stock had a trading volume of 1,751,169 shares, compared to its average volume of 5,242,618. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of -229.95, a price-to-earnings-growth ratio of 0.66 and a beta of 0.72. 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 simple moving average is $27.75 and its two-hundred day simple moving average is $30.90. Primo Brands Corporation has a 52-week low of $21.60 and a 52-week high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.05). Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.83 billion. 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. As a group, research analysts predict that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Dividend Announcement

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

About Primo Brands

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.