Deutsche Bank AG Has $5.62 Million Stock Position in Primo Brands Corporation $PRMB

Key Points

• Deutsche Bank AG reduced its stake in Primo Brands Corporation by 36.8%, selling 92,270 shares and holding 158,341 shares valued at $5.62 million at the end of the first quarter.
• CEO Robbert Rietbroek purchased 8,285 shares for about $199,834, increasing his stake by 1.43%, while Director Steven P. Stanbrook acquired 12,400 shares worth approximately $298,096, marking an 11.01% increase in his holdings.
• Primo Brands reported a quarterly earnings per share (EPS) of $0.36, falling short of expectations, and announced a $0.10 quarterly dividend with a yield of 1.6%, to be paid on September 4th.

Deutsche Bank AG lowered its holdings in Primo Brands Corporation (NYSE:PRMB - Free Report) by 36.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,341 shares of the company's stock after selling 92,270 shares during the period. Deutsche Bank AG's holdings in Primo Brands were worth $5,620,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Primo Brands by 28.7% in the 1st quarter. Vanguard Group Inc. now owns 19,704,538 shares of the company's stock valued at $699,314,000 after purchasing an additional 4,389,327 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Primo Brands during the 1st quarter worth approximately $184,225,000. Eminence Capital LP bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $145,670,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $128,982,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Primo Brands during the 4th quarter worth approximately $101,064,000. Institutional investors own 87.71% of the company's stock.

Primo Brands Price Performance

NYSE:PRMB traded down $0.1450 on Thursday, hitting $24.9250. The company had a trading volume of 3,363,429 shares, compared to its average volume of 7,034,976. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of -226.59, a PEG ratio of 0.59 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The firm has a 50 day moving average of $28.05 and a two-hundred day moving average of $31.10. Primo Brands Corporation has a 52 week low of $21.54 and a 52 week high of $35.85.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company 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 for the quarter was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Announces Dividend

The firm 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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Thursday, August 21st. Primo Brands's dividend payout ratio is -363.64%.

Insider Buying and Selling at Primo Brands

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on PRMB shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $26.00 price target on shares of Primo Brands in a report on Friday, August 8th. Royal Bank Of Canada cut their price target on shares of Primo Brands from $40.00 to $37.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Morgan Stanley cut their price target on shares of Primo Brands from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, August 11th. Bank of America cut their price target on shares of Primo Brands from $42.00 to $39.00 and set a "buy" rating for the company in a report on Friday, July 11th. Finally, Barclays cut their price target on shares of Primo Brands from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, June 16th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Primo Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.30.

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.