Knights of Columbus Asset Advisors LLC Has $2.98 Million Stake in Primo Brands Corporation $PRMB

Knights of Columbus Asset Advisors LLC increased its position in Primo Brands Corporation (NYSE:PRMB) by 12.8% in the 2nd quarter, Holdings Channel reports. The firm owned 100,580 shares of the company’s stock after buying an additional 11,380 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Primo Brands were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Primo Brands in the 4th quarter valued at $363,000. GAMMA Investing LLC increased its stake in Primo Brands by 4,673.0% in the first quarter. GAMMA Investing LLC now owns 68,922 shares of the company’s stock valued at $2,446,000 after acquiring an additional 67,478 shares during the period. Parallel Advisors LLC raised its position in Primo Brands by 225.5% in the first quarter. Parallel Advisors LLC now owns 1,302 shares of the company’s stock worth $46,000 after purchasing an additional 902 shares in the last quarter. Rhumbline Advisers lifted its stake in Primo Brands by 15.3% during the first quarter. Rhumbline Advisers now owns 298,228 shares of the company’s stock worth $10,584,000 after purchasing an additional 39,471 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Primo Brands during the first quarter valued at approximately $1,620,000. Institutional investors own 87.71% of the company’s stock.

Primo Brands Price Performance

Shares of PRMB stock opened at $21.50 on Tuesday. Primo Brands Corporation has a 52 week low of $21.45 and a 52 week high of $35.85. The stock has a market capitalization of $8.03 billion, a PE ratio of -195.45, a PEG ratio of 0.58 and a beta of 0.76. 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 stock’s fifty day moving average is $24.25 and its 200-day moving average is $29.00.

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

Primo Brands Dividend Announcement

The business also recently declared 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. This represents a $0.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 21st. Primo Brands’s dividend payout ratio is -363.64%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Securities dropped their target price on Primo Brands from $48.00 to $35.00 and set a “buy” rating for the company in a report on Friday, August 8th. Royal Bank Of Canada lowered their price target on Primo Brands from $40.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $26.00 price objective on shares of Primo Brands in a research note on Friday, August 8th. Zacks Research downgraded shares of Primo Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, August 22nd. Finally, Morgan Stanley lowered their target price on shares of Primo Brands from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Primo Brands has an average rating of “Moderate Buy” and an average price target of $36.18.

Insider Activity

In related news, Director Michael John Cramer purchased 4,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $24.46 per share, with a total value of $97,840.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robbert Rietbroek acquired 8,285 shares of Primo Brands stock in a transaction on Wednesday, August 13th. The shares were purchased at an average cost of $24.12 per share, for a total transaction of $199,834.20. Following the acquisition, the chief executive officer owned 586,349 shares in the company, valued at approximately $14,142,737.88. This represents a 1.43% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 24,685 shares of company stock valued at $595,770 over the last three months. 58.40% of the stock is owned by insiders.

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.