Maven Securities LTD Buys Shares of 20,000 Primo Brands Corporation $PRMB

Key Points

• Maven Securities LTD purchased 20,000 shares of Primo Brands Corporation for approximately $710,000, indicating institutional investor interest in the company.
• Vanguard Group Inc. increased its stake in Primo Brands by 28.7%, now owning over 19 million shares valued at around $699 million, showcasing strong institutional backing.
• Primo Brands announced a quarterly dividend of $0.10 per share, with a yield of 1.6%, scheduled for payment on September 4th to shareholders of record by August 21st.

Maven Securities LTD acquired a new stake in Primo Brands Corporation (NYSE:PRMB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,000 shares of the company's stock, valued at approximately $710,000.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc bought a new position in Primo Brands in the 1st quarter valued at $40,000. Versant Capital Management Inc raised 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 last quarter. New Age Alpha Advisors LLC bought a new position in Primo Brands in the 1st quarter valued at $43,000. Parallel Advisors LLC raised 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 last quarter. Finally, Millstone Evans Group LLC bought a new position in Primo Brands in the 1st quarter valued at $54,000. Institutional investors own 87.71% of the company's stock.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, Director Steven P. Stanbrook bought 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, with a total value of $298,096.00. Following the completion of the purchase, the director owned 125,025 shares in the company, valued at approximately $3,005,601. The trade was a 11.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robbert Rietbroek bought 8,285 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $24.12 per share, with a total value of $199,834.20. Following the completion of the purchase, the chief executive officer owned 586,349 shares of the company's stock, 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. Over the last ninety days, insiders acquired 24,685 shares of company stock valued at $595,770. Company insiders own 58.40% of the company's stock.

Primo Brands Trading Down 0.7%

Shares of Primo Brands stock traded down $0.1620 during trading on Friday, reaching $24.7480. 3,945,273 shares of the company were exchanged, compared to its average volume of 7,040,055. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.55. Primo Brands Corporation has a twelve month low of $21.54 and a twelve month high of $35.85. The business has a 50-day moving average price of $27.95 and a 200-day moving average price of $31.04. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of -224.98, a P/E/G ratio of 0.60 and a beta of 0.72.

Primo Brands (NYSE:PRMB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.83 billion. The firm's revenue was up 31.6% compared to the same quarter last year. Primo Brands has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Primo Brands Corporation will post 1.13 EPS for the current fiscal year.

Primo Brands Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PRMB shares. Mizuho dropped their target price on Primo Brands from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday. Royal Bank Of Canada dropped their target price 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $26.00 target price on shares of Primo Brands in a research report on Friday, August 8th. 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. Finally, TD Securities dropped their target price 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. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Primo Brands presently has an average rating of "Moderate Buy" and an average price target of $37.30.

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.