Robeco Institutional Asset Management B.V. Acquires 10,464 Shares of Primo Brands Corporation (NYSE:PRMB)

Robeco Institutional Asset Management B.V. raised its stake in Primo Brands Corporation (NYSE:PRMB - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,834 shares of the company's stock after buying an additional 10,464 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Primo Brands were worth $5,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC acquired a new position in Primo Brands during the fourth quarter worth $653,019,000. Vanguard Group Inc. bought a new position in shares of Primo Brands in the 4th quarter valued at about $471,249,000. William Blair Investment Management LLC bought a new position in shares of Primo Brands in the 4th quarter valued at about $343,451,000. Eminence Capital LP acquired a new position in shares of Primo Brands during the 4th quarter worth about $145,670,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Primo Brands in the 4th quarter valued at about $128,982,000. Institutional investors own 87.71% of the company's stock.

Primo Brands Stock Performance

Shares of Primo Brands stock traded down $0.06 during trading hours on Tuesday, hitting $29.56. 6,018,286 shares of the company's stock traded hands, compared to its average volume of 4,956,378. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of -369.49, a PEG ratio of 0.56 and a beta of 0.78. Primo Brands Corporation has a 12-month low of $20.16 and a 12-month high of $35.85. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.07 and a quick ratio of 0.87. The company has a fifty day simple moving average of $31.42 and a 200-day simple moving average of $32.18.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.05. Primo Brands had a negative net margin of 1.86% and a positive return on equity of 8.35%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. The business's revenue for the quarter was up 42.1% compared to the same quarter last year. Equities research analysts anticipate that Primo Brands Corporation will post 1.13 EPS for the current fiscal year.

Primo Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Friday, June 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.35%. Primo Brands's dividend payout ratio is -500.00%.

Wall Street Analyst Weigh In

PRMB has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Primo Brands from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. TD Securities assumed coverage on shares of Primo Brands in a report on Tuesday, April 8th. They set a "buy" rating and a $48.00 target price for the company. Bank of America initiated coverage on shares of Primo Brands in a research note on Wednesday, May 28th. They issued a "buy" rating and a $42.00 price target on the stock. Truist Financial initiated coverage on shares of Primo Brands in a research report on Friday, April 4th. They set a "buy" rating and a $42.00 price objective for the company. Finally, Mizuho initiated coverage on Primo Brands in a research report on Monday, May 12th. They issued an "outperform" rating and a $43.00 target price on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $41.33.

Insider Transactions at Primo Brands

In other news, Director Tony W. Lee sold 50,657,562 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $31.67, for a total transaction of $1,604,324,988.54. Following the sale, the director directly owned 116,210,806 shares in the company, valued at $3,680,396,226.02. This represents a 30.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 58.40% of the stock is owned by insiders.

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.