UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $35.32 Million Stock Position in Primo Brands Corporation $PRMB

Key Points

• UBS Asset Management significantly increased its stake in Primo Brands Corporation by 64.0%, owning 995,194 shares valued at approximately $35.3 million as of the latest SEC filing.
• Primo Brands reported Q2 earnings of $0.36 EPS, missing analyst estimates of $0.41, with revenue of $1.73 billion, below the expected $1.83 billion.
• Directors and executives at Primo Brands have been actively buying shares, with recent insider trades showing significant increases in ownership among key personnel.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Primo Brands Corporation (NYSE:PRMB - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 995,194 shares of the company's stock after purchasing an additional 388,520 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.26% of Primo Brands worth $35,319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRMB. IFP Advisors Inc acquired a new stake in shares of Primo Brands during the 1st quarter worth approximately $40,000. Versant Capital Management Inc increased its position in Primo Brands by 286.7% during 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 acquired a new stake in shares of Primo Brands during the 1st quarter worth approximately $43,000. Parallel Advisors LLC grew its position in shares of Primo Brands by 225.5% during the 1st 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 period. Finally, Millstone Evans Group LLC acquired a new stake in Primo Brands in the 1st quarter valued at $54,000. 87.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Steven P. Stanbrook purchased 12,400 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $24.04 per share, for a total transaction of $298,096.00. Following the completion of the acquisition, the director directly owned 125,025 shares in the company, valued at approximately $3,005,601. The trade was a 11.01% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robbert Rietbroek purchased 8,285 shares of the stock in a transaction dated 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 in the company, valued at $14,142,737.88. The trade was a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 24,685 shares of company stock worth $595,770 over the last quarter. 58.40% of the stock is currently owned by company insiders.

Primo Brands Price Performance

Shares of PRMB stock traded up $0.12 during trading hours on Friday, reaching $22.47. 7,651,551 shares of the company were exchanged, compared to its average volume of 4,879,042. The stock's fifty day moving average is $25.71 and its two-hundred day moving average is $29.77. Primo Brands Corporation has a fifty-two week low of $21.60 and a fifty-two week high of $35.85. The company has a market cap of $8.39 billion, a price-to-earnings ratio of -204.27, a P/E/G ratio of 0.59 and a beta of 0.76. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.06 and a quick ratio of 0.88.

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 negative net margin of 1.20% and a positive return on equity of 9.64%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.83 billion. Primo Brands's revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.10 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.40 annualized dividend and a yield of 1.8%. Primo Brands's dividend payout ratio is presently -363.64%.

Wall Street Analysts Forecast Growth

PRMB has been the subject of a number of recent analyst reports. Zacks Research lowered Primo Brands from a "hold" rating to a "strong sell" rating in a report on Friday, August 22nd. Mizuho reduced their price target 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. Royal Bank Of Canada lowered their target price on Primo Brands from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Barclays reduced their price objective 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. Finally, Bank of America lowered their target price on Primo Brands from $42.00 to $39.00 and set a "buy" rating for the company in a report on Friday, July 11th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Primo Brands presently has an average rating of "Moderate Buy" and a consensus target price of $36.18.

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.