Fuller & Thaler Asset Management Inc. Decreases Stock Holdings in Primo Brands Corporation $PRMB

Key Points

• Fuller & Thaler Asset Management Inc. significantly reduced its stake in Primo Brands Corporation, decreasing its holdings by 99.9%, with only 4,889 shares remaining after selling 4,186,920 shares.
• Multiple equities analysts have revised their price targets for Primo Brands, with estimates ranging from $26.00 to $39.00, while the company maintains a consensus rating of "Moderate Buy."
• Primo Brands announced a quarterly dividend of $0.10 per share, reflecting a yield of 1.6%, although its current dividend payout ratio is reported as -363.64%.

Fuller & Thaler Asset Management Inc. decreased its position in shares of Primo Brands Corporation (NYSE:PRMB - Free Report) by 99.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,889 shares of the company's stock after selling 4,186,920 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in Primo Brands were worth $173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc bought a new stake in Primo Brands in the first quarter worth approximately $40,000. Versant Capital Management Inc boosted its stake in Primo Brands by 286.7% during the 1st quarter. Versant Capital Management Inc now owns 1,222 shares of the company's stock worth $43,000 after acquiring an additional 906 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Primo Brands during the 1st quarter worth approximately $43,000. Parallel Advisors LLC increased its holdings in Primo Brands by 225.5% during 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. Finally, Millstone Evans Group LLC bought a new stake in shares of Primo Brands in the first quarter valued at about $54,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Stock Performance

NYSE:PRMB traded up $0.53 during mid-day trading on Wednesday, reaching $25.39. 1,051,203 shares of the company's stock were exchanged, compared to its average volume of 5,238,569. Primo Brands Corporation has a one year low of $21.60 and a one year high of $35.85. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.06. The firm has a market capitalization of $9.48 billion, a PE ratio of -230.45, a price-to-earnings-growth ratio of 0.66 and a beta of 0.72. The business's fifty day simple moving average is $27.75 and its two-hundred day simple moving average is $30.90.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its 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). 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 during the quarter, compared to the consensus estimate of $1.83 billion. The business'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. Analysts anticipate that Primo Brands Corporation will post 1.13 earnings per share 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. Stockholders of record on Thursday, August 21st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. Primo Brands's payout ratio is currently -363.64%.

Insider Activity at Primo Brands

In related news, CEO Robbert Rietbroek acquired 8,285 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $24.12 per share, with a total value of $199,834.20. Following the transaction, the chief executive officer owned 586,349 shares of the company's stock, valued at $14,142,737.88. The trade was a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael John Cramer acquired 4,000 shares of Primo Brands stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $24.46 per share, for a total transaction of $97,840.00. Following the purchase, the director owned 12,762 shares of the company's stock, valued at $312,158.52. This represents a 45.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 24,685 shares of company stock worth $595,770. 58.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRMB shares. Mizuho dropped their price objective 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. Zacks Research downgraded Primo Brands from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Royal Bank Of Canada dropped their price target on Primo Brands from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. TD Securities reduced their price objective on Primo Brands from $48.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Barclays lowered their target price 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. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Primo Brands has an average rating of "Moderate Buy" and a consensus target price 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.