Primo Brands (NYSE:PRMB) Stock Sees Heavy Call Option Buying

Primo Brands Corporation (NYSE:PRMB) saw unusually large options trading activity on Monday. Stock investors bought 30,629 call options on the stock. This is an increase of approximately 1,401% compared to the average daily volume of 2,041 call options.

Insider Activity at Primo Brands

In related news, CEO Eric Foss purchased 84,000 shares of Primo Brands stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $23.80 per share, for a total transaction of $1,999,200.00. Following the transaction, the chief executive officer directly owned 573,806 shares in the company, valued at approximately $13,656,582.80. This trade represents a 17.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 32.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Primo Brands

Large investors have recently bought and sold shares of the stock. Heartland Advisors Inc. raised 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 valued at $7,801,000 after purchasing an additional 233,803 shares during the last quarter. One Rock Capital Partners LLC purchased a new position in Primo Brands during the 4th quarter worth $1,900,047,000. Royal Bank of Canada increased its stake in Primo Brands by 127.1% in the first quarter. Royal Bank of Canada now owns 130,877 shares of the company’s stock valued at $2,464,000 after purchasing an additional 73,253 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Primo Brands by 62.0% during the second quarter. Squarepoint Ops LLC now owns 761,563 shares of the company’s stock worth $18,613,000 after buying an additional 291,412 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Primo Brands by 350.3% during the second quarter. Assenagon Asset Management S.A. now owns 65,544 shares of the company’s stock worth $1,602,000 after buying an additional 50,989 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

PRMB has been the subject of several recent research reports. TD Cowen reissued a “buy” rating on shares of Primo Brands in a research note on Thursday, August 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $29.00 price target on shares of Primo Brands in a research report on Friday, August 7th. Barclays upped their target price on shares of Primo Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Primo Brands in a research note on Friday, August 7th. Finally, TD lifted their price objective on Primo Brands from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Primo Brands currently has an average rating of “Moderate Buy” and an average price target of $28.25.

Primo Brands Stock Up 2.0%

Shares of PRMB traded up $0.40 during midday trading on Monday, reaching $19.91. The stock had a trading volume of 3,313,188 shares, compared to its average volume of 4,548,480. Primo Brands has a 1-year low of $14.36 and a 1-year high of $26.21. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.05 and a quick ratio of 0.86. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 76.49, a PEG ratio of 1.34 and a beta of 0.71. The company’s fifty day simple moving average is $22.09 and its two-hundred day simple moving average is $22.18.

Primo Brands (NYSE:PRMB) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.77 billion. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%.Primo Brands’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 EPS. Equities research analysts expect that Primo Brands will post 1.27 earnings per share for the current year.

Primo Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 24th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, August 24th. Primo Brands’s dividend payout ratio (DPR) is currently 184.62%.

About Primo Brands

Primo Brands Corporation is a beverage company focused on hydration products and water services. Its offerings include purified, spring and mineral water; enhanced and sparkling water; water dispensers; filtration products; and bottled-water delivery services for homes, businesses and other organizations.

The company markets a broad portfolio of regional and national brands, including Primo, Poland Spring, Deer Park, Arrowhead, Ice Mountain, Ozarka, Pure Life and Splash. Its business combines packaged beverages sold through retail and other distribution channels with direct-to-consumer delivery and water solutions supported by dispensers and filtration systems.

Primo Brands was formed through the combination of Primo Water Corporation and BlueTriton Brands, a transaction completed in 2024.