Primo Brands Corporation $PRMB Stake Increased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Primo Brands Corporation by 25.2%, owning approximately 0.40% of the company, valued at $53.4 million.
• Insider transactions include CEO Robbert Rietbroek purchasing 8,285 shares, increasing his position by 1.43%, while Director Steven P. Stanbrook bought 12,400 shares, marking an 11.01% increase.
• Primo Brands reported a quarterly loss with earnings per share of $0.36, missing estimates by $0.05, while revenue of $1.73 billion was also below expectations.

Charles Schwab Investment Management Inc. boosted its holdings in Primo Brands Corporation (NYSE:PRMB - Free Report) by 25.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,505,860 shares of the company's stock after acquiring an additional 303,538 shares during the period. Charles Schwab Investment Management Inc. owned 0.40% of Primo Brands worth $53,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PRMB. IFP Advisors Inc acquired a new stake in Primo Brands in the 1st quarter valued at about $40,000. Versant Capital Management Inc grew 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 acquiring an additional 906 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Primo Brands in the 1st quarter valued at about $43,000. Parallel Advisors LLC grew its stake 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 acquiring an additional 902 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Primo Brands during the 1st quarter worth about $54,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho assumed coverage on shares of Primo Brands in a research note on Monday, May 12th. They set an "outperform" rating and a $43.00 price target on the stock. Morgan Stanley decreased their price target on shares of Primo Brands from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Royal Bank Of Canada decreased their price target on shares of Primo Brands from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Barclays decreased their price target on shares of Primo Brands from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Finally, Bank of America decreased their target price on shares of Primo Brands from $42.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.60.

Insider Activity

In other news, Director Michael John Cramer acquired 4,000 shares of the company's stock in a transaction dated 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 completion of the purchase, the director directly owned 12,762 shares of the company's stock, valued at approximately $312,158.52. This trade represents a 45.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven P. Stanbrook acquired 12,400 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $24.04 per share, for a total transaction of $298,096.00. Following the purchase, the director directly owned 125,025 shares of the company's stock, valued at approximately $3,005,601. This trade represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 24,685 shares of company stock worth $595,770 over the last 90 days. Company insiders own 58.40% of the company's stock.

Primo Brands Trading Down 0.9%

NYSE PRMB traded down $0.2290 during mid-day trading on Tuesday, hitting $24.8110. The company's stock had a trading volume of 2,036,576 shares, compared to its average volume of 5,274,969. Primo Brands Corporation has a 52-week low of $21.54 and a 52-week high of $35.85. The stock's fifty day simple moving average is $28.30 and its two-hundred day simple moving average is $31.24. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.06 and a quick ratio of 0.88. The firm has a market capitalization of $9.27 billion, a P/E ratio of -225.77, a price-to-earnings-growth ratio of 0.58 and a beta of 0.72.

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 the consensus estimate 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 during the quarter, compared to analysts' expectations 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. Research analysts expect that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.6%. Primo Brands's dividend payout ratio (DPR) is currently -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.