Primo Brands Corporation $PRMB Shares Purchased by Forum Financial Management LP

Forum Financial Management LP lifted its position in shares of Primo Brands Corporation (NYSE:PRMB) by 39.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,947 shares of the company’s stock after acquiring an additional 3,076 shares during the quarter. Forum Financial Management LP’s holdings in Primo Brands were worth $324,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PRMB. GAMMA Investing LLC boosted its stake in shares of Primo Brands by 34.5% during the 1st quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock worth $69,000 after acquiring an additional 498 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Primo Brands by 14.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,465 shares of the company’s stock worth $478,000 after acquiring an additional 1,656 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Primo Brands by 12.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 82,557 shares of the company’s stock worth $2,930,000 after acquiring an additional 9,235 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Primo Brands during the 1st quarter worth approximately $74,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Primo Brands by 7.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 151,834 shares of the company’s stock worth $5,389,000 after acquiring an additional 10,464 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Insider Activity

In related news, Director Steven P. Stanbrook acquired 12,400 shares of the stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $24.04 per share, with a total value of $298,096.00. Following the purchase, the director directly owned 125,025 shares of the company’s stock, valued at approximately $3,005,601. This represents a 11.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael John Cramer acquired 4,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $24.46 per share, with a total value of $97,840.00. Following the completion of the purchase, the director directly owned 12,762 shares in the company, valued at approximately $312,158.52. This trade represents a 45.65% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 24,685 shares of company stock valued at $595,770 in the last ninety days. Company insiders own 58.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PRMB shares. Zacks Research raised Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Bank of America decreased their price target on Primo Brands from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. 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. Mizuho cut their price objective on Primo Brands from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada cut their price objective on Primo Brands from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Primo Brands currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

Primo Brands Trading Up 0.3%

Shares of PRMB opened at $22.34 on Monday. The stock has a fifty day moving average of $23.25 and a two-hundred day moving average of $27.84. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.88 and a current ratio of 1.06. The company has a market capitalization of $8.35 billion, a PE ratio of -203.11, a price-to-earnings-growth ratio of 0.60 and a beta of 0.76. Primo Brands Corporation has a fifty-two week low of $21.37 and a fifty-two week high of $35.85.

Primo Brands (NYSE:PRMB) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.83 billion. Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The company’s revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. As a group, analysts forecast that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. Primo Brands’s payout ratio is currently -363.64%.

Primo Brands 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.