7,833 Shares in Primo Brands Corporation $PRMB Purchased by Caliber Wealth Management LLC KS

Caliber Wealth Management LLC KS bought a new position in shares of Primo Brands Corporation (NYSE:PRMB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,833 shares of the company’s stock, valued at approximately $232,000.

Several other large investors have also recently added to or reduced their stakes in the business. Arista Wealth Management LLC purchased a new position in Primo Brands during the second quarter worth about $1,183,000. Allspring Global Investments Holdings LLC lifted its position in Primo Brands by 60.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,802,613 shares of the company’s stock worth $112,405,000 after buying an additional 1,433,010 shares during the period. IFP Advisors Inc lifted its position in Primo Brands by 695.2% during the second quarter. IFP Advisors Inc now owns 8,771 shares of the company’s stock worth $261,000 after buying an additional 7,668 shares during the period. Maryland State Retirement & Pension System purchased a new position in Primo Brands during the second quarter worth about $370,000. Finally, KLP Kapitalforvaltning AS increased its stake in Primo Brands by 40.1% during the second quarter. KLP Kapitalforvaltning AS now owns 58,391 shares of the company’s stock worth $1,730,000 after acquiring an additional 16,700 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, Director Michael John Cramer acquired 4,000 shares of the stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $24.46 per share, for a total transaction of $97,840.00. Following the purchase, the director directly owned 12,762 shares in the company, valued at $312,158.52. This trade represents a 45.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven P. Stanbrook acquired 12,400 shares of the stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $24.04 per share, with a total value of $298,096.00. Following the purchase, the director owned 125,025 shares in the company, valued at $3,005,601. This represents a 11.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 24,685 shares of company stock worth $595,770 in the last 90 days. 58.40% of the stock is owned by corporate insiders.

Primo Brands Stock Performance

Shares of NYSE:PRMB opened at $22.43 on Thursday. The company has a market cap of $8.38 billion, a P/E ratio of -203.87, a PEG ratio of 0.59 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. Primo Brands Corporation has a one year low of $21.37 and a one year high of $35.85. The business’s 50-day simple moving average is $23.34 and its 200 day simple moving average is $28.06.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, August 7th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Primo Brands Corporation will post 1.13 earnings per share for the current fiscal year.

Primo Brands Announces Dividend

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

Analyst Upgrades and Downgrades

PRMB has been the subject of a number of research reports. TD Securities decreased 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. The Goldman Sachs Group began coverage on Primo Brands in a report on Thursday, September 11th. They set a “neutral” rating and a $25.00 target price for the company. Mizuho decreased their target price on Primo Brands from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Primo Brands in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Primo Brands from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Primo Brands currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

About Primo Brands

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.