Robbert Rietbroek Purchases 8,285 Shares of Primo Brands (NYSE:PRMB) Stock

Key Points

• Primo Brands CEO Robbert Rietbroek purchased 8,285 shares of the company's stock at an average price of $24.12, increasing his total ownership to 586,349 shares valued at approximately $14.14 million.
• The company reported $1.73 billion in revenue for the last quarter, missing analyst expectations, with earnings per share at $0.36 compared to the expected $0.41.
• Primo Brands declared a quarterly dividend of $0.10 per share, with a 1.6% dividend yield, to be paid on September 4th for shareholders of record on August 21st.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) CEO Robbert Rietbroek acquired 8,285 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of $24.12 per share, with a total value of $199,834.20. Following the acquisition, the chief executive officer owned 586,349 shares in the company, valued at $14,142,737.88. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Primo Brands Trading Down 0.9%

PRMB traded down $0.2210 during trading hours on Tuesday, reaching $24.8190. 4,077,125 shares of the company's stock traded hands, compared to its average volume of 6,923,452. The firm has a 50-day moving average price of $28.21 and a 200 day moving average price of $31.20. Primo Brands Corporation has a 52-week low of $21.54 and a 52-week high of $35.85. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $9.27 billion, a PE ratio of 24.08, a PEG ratio of 0.59 and a beta of 0.72.

Primo Brands (NYSE:PRMB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (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 business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.83 billion. The business'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, sell-side analysts predict that Primo Brands Corporation will post 1.13 EPS for the current fiscal year.

Primo Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PRMB shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $26.00 target price on shares of Primo Brands in a report on Friday, August 8th. Barclays dropped their price objective 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. Morgan Stanley cut their price target on shares of Primo Brands from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, August 11th. Royal Bank Of Canada cut their price objective on Primo Brands from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, TD Securities lowered their target price on Primo Brands from $48.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Primo Brands has an average rating of "Moderate Buy" and an average price target of $37.60.

Hedge Funds Weigh In On Primo Brands

Several large investors have recently bought and sold shares of PRMB. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Primo Brands during the second quarter worth about $26,000. IFP Advisors Inc acquired a new stake in shares of Primo Brands during the first quarter worth about $40,000. Versant Capital Management Inc boosted its stake in shares of Primo Brands by 286.7% during the first quarter. Versant Capital Management Inc now owns 1,222 shares of the company's stock worth $43,000 after buying an additional 906 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Primo Brands in the first quarter valued at about $43,000. Finally, Parallel Advisors LLC lifted its position in Primo Brands by 225.5% in the first 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 period. Hedge funds and other institutional investors own 87.71% of the company's stock.

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.