Petrus Trust Company LTA Acquires Shares of 17,932 Primo Brands Corporation $PRMB

Key Points

• Petrus Trust Company LTA has made a new investment of approximately $636,000 in Primo Brands Corporation, acquiring 17,932 shares during the first quarter.
• Primo Brands reported earnings per share of $0.36 for the latest quarter, missing analysts' expectations of $0.41, and revenues of $1.73 billion, below the forecasted $1.83 billion.
• The company has announced a quarterly dividend of $0.10 per share, reflecting a 1.6% yield, though its payout ratio stands at -363.64%.

Petrus Trust Company LTA purchased a new stake in Primo Brands Corporation (NYSE:PRMB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,932 shares of the company's stock, valued at approximately $636,000.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc bought a new stake in Primo Brands in the 1st quarter valued at $40,000. Versant Capital Management Inc boosted its stake 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 bought 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% 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 in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Primo Brands during the first quarter worth approximately $54,000. 87.71% of the stock is currently owned by institutional investors.

Insider Activity at Primo Brands

In other news, Director Michael John Cramer acquired 4,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $24.46 per share, with a total value of $97,840.00. Following the acquisition, the director directly owned 12,762 shares in the company, valued at $312,158.52. The trade was a 45.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robbert Rietbroek bought 8,285 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average cost of $24.12 per share, with a total value of $199,834.20. Following the purchase, the chief executive officer directly owned 586,349 shares of the company's stock, 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 have bought a total of 24,685 shares of company stock valued at $595,770 in the last 90 days. 58.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Primo Brands in a research report on Thursday. They set a "neutral" rating and a $25.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $26.00 price target on shares of Primo Brands in a research report on Friday, August 8th. Royal Bank Of Canada reduced their price target on Primo Brands from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Zacks Research downgraded Primo Brands from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd. Finally, Morgan Stanley reduced their target price on Primo Brands from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Monday, August 11th. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.18.

Primo Brands Price Performance

Shares of Primo Brands stock traded down $0.30 during trading on Friday, reaching $24.03. 1,383,980 shares of the company's stock were exchanged, compared to its average volume of 5,215,939. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.06. Primo Brands Corporation has a 1-year low of $21.60 and a 1-year high of $35.85. The company has a market cap of $8.97 billion, a P/E ratio of -218.41, a PEG ratio of 0.65 and a beta of 0.76. The firm's 50-day moving average price is $26.58 and its 200 day moving average price is $30.21.

Primo Brands (NYSE:PRMB - Get Free Report) last posted 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 positive return on equity of 9.64% and a negative net margin of 1.20%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.83 billion. Primo Brands'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 anticipate that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.7%. Primo Brands's dividend payout ratio (DPR) is -363.64%.

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.