Stock Traders Purchase Large Volume of Primo Brands Call Options (NYSE:PRMB)

Primo Brands Corporation (NYSE:PRMB) was the target of some unusual options trading activity on Tuesday. Investors acquired 13,179 call options on the company. This represents an increase of 310% compared to the average daily volume of 3,218 call options.

Hedge Funds Weigh In On Primo Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caption Management LLC purchased a new position in Primo Brands in the third quarter worth approximately $27,000. LRI Investments LLC grew its holdings in Primo Brands by 203.1% during the 4th quarter. LRI Investments LLC now owns 1,949 shares of the company’s stock worth $32,000 after acquiring an additional 1,306 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of Primo Brands by 65.2% in the 4th quarter. Picton Mahoney Asset Management now owns 2,153 shares of the company’s stock valued at $35,000 after purchasing an additional 850 shares during the last quarter. Quarry LP raised its holdings in shares of Primo Brands by 516.6% in the 4th quarter. Quarry LP now owns 2,380 shares of the company’s stock valued at $39,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Primo Brands by 21,481.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,374 shares of the company’s stock valued at $39,000 after purchasing an additional 2,363 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRMB has been the subject of several research reports. TD Securities lifted their target price on shares of Primo Brands from $27.00 to $29.00 and gave the company a “buy” rating in a report on Friday, February 27th. Jefferies Financial Group upgraded Primo Brands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, March 27th. Weiss Ratings upgraded Primo Brands from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 23rd. Royal Bank Of Canada lifted their price objective on Primo Brands to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Primo Brands from $24.00 to $19.00 and set a “hold” rating on the stock in a report on Monday. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.83.

Primo Brands Trading Up 0.1%

Shares of PRMB stock opened at $18.85 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 0.95. The stock has a market capitalization of $6.84 billion, a P/E ratio of 125.64, a price-to-earnings-growth ratio of 1.45 and a beta of 0.61. The company has a 50 day moving average price of $19.70 and a 200 day moving average price of $19.13. Primo Brands has a fifty-two week low of $14.36 and a fifty-two week high of $35.75.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Primo Brands had a return on equity of 14.52% and a net margin of 0.90%.The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. Equities research analysts predict that Primo Brands will post 1.13 EPS for the current fiscal year.

Primo Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, March 6th. This is a boost from Primo Brands’s previous quarterly dividend of $0.10. Primo Brands’s dividend payout ratio (DPR) is 266.67%.

About Primo Brands

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.