Aperture Investors LLC Acquires Shares of 452,722 Primo Brands Corporation $PRMB

Key Points

• Aperture Investors LLC made a new investment of approximately $16.07 million in Primo Brands Corporation, acquiring 452,722 shares, which now represent about 2.1% of Aperture's investment portfolio.
• Insider trading activity included Director Steven P. Stanbrook purchasing 12,400 shares at an average cost of $24.04 per share, and the total insider purchases exceeded 24,685 shares valued at $595,770 over the past three months.
• The company recently reported earnings that missed analysts' expectations, generating a positive return on equity of 9.64% with a revenue of $1.73 billion, which was below the consensus estimate of $1.83 billion.

Aperture Investors LLC bought a new position in Primo Brands Corporation (NYSE:PRMB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 452,722 shares of the company's stock, valued at approximately $16,067,000. Primo Brands makes up 2.1% of Aperture Investors LLC's investment portfolio, making the stock its 17th largest holding. Aperture Investors LLC owned approximately 0.12% of Primo Brands at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc acquired a new stake in Primo Brands in the 1st quarter valued at $40,000. Versant Capital Management Inc grew its position in Primo Brands by 286.7% in the 1st 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. New Age Alpha Advisors LLC acquired a new stake in Primo Brands in the 1st quarter valued at $43,000. Parallel Advisors LLC grew its position in Primo Brands by 225.5% in the 1st 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, Millstone Evans Group LLC acquired a new stake in Primo Brands in the 1st quarter valued at $54,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Insider Buying and Selling at Primo Brands

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

Analysts Set New Price Targets

A number of research firms recently commented on PRMB. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $26.00 price target on shares of Primo Brands in a research report on Friday, August 8th. TD Securities lowered their price target on Primo Brands from $48.00 to $35.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Mizuho lowered their price target 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. Royal Bank Of Canada lowered their price target on Primo Brands from $40.00 to $37.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Zacks Research lowered Primo Brands from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Nine equities research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.30.

Primo Brands Price Performance

Shares of PRMB stock traded down $0.13 during trading on Tuesday, hitting $24.98. The company had a trading volume of 4,435,331 shares, compared to its average volume of 5,260,188. Primo Brands Corporation has a 52 week low of $21.60 and a 52 week high of $35.85. 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 stock's 50-day moving average is $27.36 and its two-hundred day moving average is $30.66. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of -227.13, a price-to-earnings-growth ratio of 0.66 and a beta of 0.76.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly 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 negative net margin of 1.20% and a positive return on equity of 9.64%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.83 billion. The company's quarterly revenue was up 31.6% compared to the same quarter last year. Primo Brands has set its FY 2025 guidance at EPS. As a group, analysts predict that Primo Brands Corporation will post 1.13 EPS for the current fiscal year.

Primo Brands Dividend Announcement

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

Primo Brands Company 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.