Stock Traders Purchase High Volume of Call Options on Primo Brands (NYSE:PRMB)

Primo Brands Corporation (NYSE:PRMB) saw some unusual options trading activity on Tuesday. Traders acquired 10,005 call options on the company. This is an increase of 333% compared to the typical volume of 2,311 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Primo Brands in a research report on Wednesday, November 4th. Barclays boosted their price target on Primo Brands from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen reissued a “buy” rating on shares of Primo Brands in a report on Thursday, August 6th. Zacks Research lowered Primo Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Primo Brands in a report on Wednesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.82.

Institutional Investors Weigh In On Primo Brands

Large investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC grew its position in shares of Primo Brands by 382.9% during the third quarter. Rothschild Investment LLC now owns 1,386 shares of the company’s stock worth $26,000 after acquiring an additional 1,099 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in Primo Brands during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its position in Primo Brands by 76.9% in 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. CX Institutional bought a new position in Primo Brands in the 3rd quarter worth about $38,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Primo Brands in the 3rd quarter worth about $39,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Stock Down 0.2%

NYSE:PRMB opened at $24.01 on Thursday. The firm has a market capitalization of $8.68 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.98 and a beta of 0.73. The stock has a 50 day moving average of $20.37 and a 200-day moving average of $21.53. Primo Brands has a 52 week low of $14.80 and a 52 week high of $26.21. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.67.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Primo Brands had a return on equity of 14.55% and a net margin of 3.06%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. Analysts predict that Primo Brands will post 1.27 EPS for the current year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, November 24th. Primo Brands’s dividend payout ratio is presently 85.71%.

About Primo Brands

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses. The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses. Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.