Primo Brands Target of Unusually High Options Trading (NYSE:PRMB)

Key Points

• Primo Brands saw unusually heavy options activity on Monday, with traders buying 37,541 call options — about 757% above its normal daily volume.
• The stock fell $0.59 to $24.23 and recently reported quarterly EPS of $0.23, missing estimates by a penny, though revenue came in above expectations at $1.63 billion.
• Analyst sentiment remains constructive overall, with a Moderate Buy consensus rating and an average target price of $26.18, while JPMorgan recently raised its target to $29.

Primo Brands Corporation (NYSE:PRMB - Get Free Report) was the target of unusually large options trading on Monday. Traders acquired 37,541 call options on the company. This is an increase of approximately 757% compared to the typical daily volume of 4,382 call options.

Primo Brands Stock Performance

PRMB traded down $0.59 on Monday, reaching $24.23. The company had a trading volume of 2,236,279 shares, compared to its average volume of 4,705,720. Primo Brands has a 1 year low of $14.36 and a 1 year high of $29.23. The stock has a market capitalization of $8.79 billion, a PE ratio of 174.54, a P/E/G ratio of 2.14 and a beta of 0.73. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. The stock has a 50-day moving average price of $24.03 and a 200-day moving average price of $21.03.

Primo Brands (NYSE:PRMB - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same period in the previous year, the business posted $0.29 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts forecast that Primo Brands will post 1.25 EPS for the current fiscal year.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 2.0%. Primo Brands's payout ratio is 342.86%.

Institutional Investors Weigh In On Primo Brands

Several large investors have recently modified their holdings of the company. Caption Management LLC acquired a new position in shares of Primo Brands in the 3rd quarter valued at $27,000. Harbor Investment Advisory LLC acquired a new stake in Primo Brands during the 2nd quarter worth $37,000. LRI Investments LLC boosted its stake in Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company's stock worth $32,000 after purchasing an additional 1,306 shares during the period. EverSource Wealth Advisors LLC grew its position in Primo Brands by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company's stock worth $37,000 after purchasing an additional 853 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its stake in Primo Brands by 65.2% in the fourth quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company's stock valued at $35,000 after purchasing an additional 850 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PRMB shares. Jefferies Financial Group upgraded Primo Brands from a "hold" rating to a "buy" rating and set a $25.00 target price for the company in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft cut their price target on Primo Brands from $24.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, March 30th. Barclays lifted their price objective on Primo Brands from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Primo Brands from $26.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Royal Bank Of Canada set a $28.00 target price on shares of Primo Brands in a research note on Thursday, April 9th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.18.

About Primo Brands

Primo Brands NYSE: PRMB is a consumer packaged beverage company that was established as an independent entity following a corporate spin‐off in 2023. The company specializes in the production, marketing and distribution of a broad portfolio of bottled water products, including purified, mineral and sparkling varieties. Through its focus on quality control and innovation, Primo Brands aims to deliver clean, great-tasting water in formats tailored to both at-home consumption and on-the-go lifestyles.

Its product range spans multi-serve and single-serve bottles, aluminum cans and other eco-friendly packaging solutions.

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