Primo Brands Sees Unusually High Options Volume (NYSE:PRMB)

Primo Brands Corporation (NYSE:PRMB) saw some unusual options trading activity on Monday. Investors acquired 36,430 call options on the company. This represents an increase of approximately 646% compared to the average volume of 4,885 call options.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $24.92 on Wednesday. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $30.98. The business has a 50 day moving average price of $22.97 and a two-hundred day moving average price of $20.29. 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 firm has a market cap of $9.04 billion, a PE ratio of 178.32, a price-to-earnings-growth ratio of 2.13 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last posted 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). The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Primo Brands had a return on equity of 13.98% and a net margin of 0.88%.Primo Brands’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Sell-side analysts expect that Primo Brands will post 1.25 earnings per share for the current fiscal year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 4th. Primo Brands’s payout ratio is 342.86%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. grew its position in Primo Brands by 96.1% in the 4th quarter. Heartland Advisors Inc. now owns 477,100 shares of the company’s stock worth $7,801,000 after purchasing an additional 233,803 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Primo Brands in the fourth quarter valued at approximately $11,559,000. One Rock Capital Partners LLC bought a new stake in shares of Primo Brands during the fourth quarter valued at approximately $1,900,047,000. William Blair Investment Management LLC raised its holdings in shares of Primo Brands by 11.6% during the third quarter. William Blair Investment Management LLC now owns 11,834,384 shares of the company’s stock valued at $261,540,000 after buying an additional 1,231,701 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Primo Brands by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 3,698,550 shares of the company’s stock worth $81,739,000 after buying an additional 751,250 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group upgraded Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, March 27th. Wall Street Zen upgraded Primo Brands from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Zacks Research upgraded Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Weiss Ratings upgraded Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

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.