Primo Brands Corporation (NYSE:PRMB) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Primo Brands Corporation (NYSE:PRMB) has received an average rating of "Moderate Buy" from eleven brokerages, with nine analysts giving it a buy recommendation.
• Insider activity increased, with Director Steven P. Stanbrook purchasing 12,400 shares at an average price of $24.04, raising his ownership by 11.01%.
• The company plans to pay a quarterly dividend of $0.10 per share on September 4th, yielding approximately 1.6% annually, despite a high payout ratio of -363.64%.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $37.30.

Several research analysts have recently issued reports on the stock. Bank of America dropped 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 note on Friday, July 11th. Mizuho lowered their price objective on shares of Primo Brands from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $26.00 price objective on shares of Primo Brands in a research report on Friday, August 8th. Royal Bank Of Canada lowered their price objective on shares of Primo Brands from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Zacks Research downgraded shares of Primo Brands from a "hold" rating to a "strong sell" rating in a research report on Friday, August 22nd.

Insider Activity at Primo Brands

In other Primo Brands news, Director Steven P. Stanbrook purchased 12,400 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $24.04 per share, for a total transaction of $298,096.00. Following the completion of the transaction, the director owned 125,025 shares of the company's stock, valued at approximately $3,005,601. The trade was a 11.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael John Cramer purchased 4,000 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $24.46 per share, for a total transaction of $97,840.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders have purchased a total of 24,685 shares of company stock worth $595,770 over the last quarter. Company insiders own 58.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Primo Brands in the second quarter worth approximately $26,000. IFP Advisors Inc bought a new position in Primo Brands in the first quarter worth approximately $40,000. Versant Capital Management Inc raised its position in Primo Brands by 286.7% in the first quarter. Versant Capital Management Inc now owns 1,222 shares of the company's stock worth $43,000 after acquiring an additional 906 shares during the period. New Age Alpha Advisors LLC bought a new position in Primo Brands in the first quarter worth approximately $43,000. Finally, Parallel Advisors LLC raised 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 worth $46,000 after acquiring an additional 902 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Brands Trading Up 0.4%

Shares of NYSE PRMB opened at $25.12 on Monday. The firm's 50 day moving average price is $27.46 and its 200-day moving average price is $30.71. The company has a market cap of $9.38 billion, a PE ratio of -228.39, a P/E/G ratio of 0.66 and a beta of 0.76. Primo Brands has a 52-week low of $21.60 and a 52-week high of $35.85. 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 (NYSE:PRMB - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.83 billion. Primo Brands had a positive return on equity of 9.64% and a negative net margin of 1.20%.The company's revenue was up 31.6% compared to the same quarter last year. Primo Brands has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Primo Brands will post 1.13 EPS for the current fiscal year.

Primo Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given 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 yield of 1.6%. Primo Brands's dividend payout ratio is -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.

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