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

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

Institutional Trading of Primo Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caption Management LLC purchased a new position in Primo Brands in the third quarter valued at about $27,000. LRI Investments LLC lifted its holdings in shares of Primo Brands by 203.1% during the fourth 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 increased its stake in shares of Primo Brands by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the company’s stock worth $37,000 after acquiring an additional 853 shares during the period. Picton Mahoney Asset Management raised its stake in shares of Primo Brands by 65.2% during the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after buying an additional 850 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Primo Brands by 21,481.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock valued at $39,000 after buying an additional 2,363 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Brands Trading Down 1.0%

Shares of NYSE:PRMB traded down $0.25 during trading hours on Monday, hitting $24.70. 2,807,061 shares of the company’s stock traded hands, compared to its average volume of 4,919,771. The business has a fifty day moving average price of $22.81 and a 200-day moving average price of $20.16. The firm has a market capitalization of $8.96 billion, a P/E ratio of 176.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.72. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.98 and a quick ratio of 0.79. Primo Brands has a 1 year low of $14.36 and a 1 year high of $30.98.

Primo Brands (NYSE:PRMB) last released its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share 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 business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that Primo Brands will post 1.25 earnings per share for the current year.

Primo Brands Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.9%. Primo Brands’s payout ratio is 342.86%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRMB. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. decreased their target price on Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Weiss Ratings upgraded shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $28.00 price objective on shares of Primo Brands in a report on Thursday, April 9th. Finally, Mizuho lifted their target price on Primo Brands from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.91.

Primo Brands Company Profile

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.