Primo Brands Corporation $PRMB Shares Sold by Credit Agricole S A

Credit Agricole S A decreased its holdings in Primo Brands Corporation (NYSE:PRMB) by 34.1% in the first quarter, Holdings Channel reports. The fund owned 219,607 shares of the company’s stock after selling 113,521 shares during the period. Credit Agricole S A’s holdings in Primo Brands were worth $7,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Senator Investment Group LP raised its holdings in Primo Brands by 53.6% in the 1st quarter. Senator Investment Group LP now owns 2,201,798 shares of the company’s stock valued at $78,142,000 after acquiring an additional 768,293 shares during the last quarter. Maven Securities LTD acquired a new stake in Primo Brands in the 1st quarter valued at about $710,000. Northern Trust Corp raised its holdings in Primo Brands by 23.3% in the 1st quarter. Northern Trust Corp now owns 1,943,099 shares of the company’s stock valued at $68,961,000 after acquiring an additional 366,846 shares during the last quarter. Algert Global LLC acquired a new stake in Primo Brands in the 1st quarter valued at about $451,000. Finally, Raymond James Financial Inc. raised its holdings in Primo Brands by 4.3% in the 1st quarter. Raymond James Financial Inc. now owns 682,029 shares of the company’s stock valued at $24,205,000 after acquiring an additional 28,000 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Insider Activity at Primo Brands

In related news, CEO Robbert Rietbroek bought 8,285 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $24.12 per share, for a total transaction of $199,834.20. Following the acquisition, the chief executive officer owned 586,349 shares of the company’s stock, valued at approximately $14,142,737.88. This trade represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael John Cramer bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $24.46 per share, with a total value of $97,840.00. Following the acquisition, the director directly owned 12,762 shares in the company, valued at $312,158.52. The trade was a 45.65% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 24,685 shares of company stock worth $595,770. Insiders own 58.40% of the company’s stock.

Primo Brands Stock Down 0.6%

Primo Brands stock opened at $24.9250 on Friday. Primo Brands Corporation has a fifty-two week low of $21.54 and a fifty-two week high of $35.85. 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 firm has a 50 day moving average price of $28.05 and a 200 day moving average price of $31.10. The company has a market capitalization of $9.31 billion, a PE ratio of -226.59, a price-to-earnings-growth ratio of 0.59 and a beta of 0.72.

Primo Brands (NYSE:PRMB) last posted its 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). Primo Brands had a negative net margin of 1.20% and a positive return on equity of 9.64%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.83 billion. The company’s revenue was up 31.6% on a year-over-year basis. Primo Brands has set its FY 2025 guidance at EPS. Research analysts expect that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Thursday, August 21st. Primo Brands’s dividend payout ratio (DPR) is -363.64%.

Analyst Upgrades and Downgrades

PRMB has been the subject of a number of recent research reports. Mizuho cut their price objective on shares of Primo Brands from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 price target on shares of Primo Brands in a report on Friday, August 8th. Barclays cut their price target on shares of Primo Brands from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, June 16th. Bank of America cut their price target on shares of Primo Brands from $42.00 to $39.00 and set a “buy” rating for the company in a report on Friday, July 11th. Finally, Royal Bank Of Canada cut their price target on shares of Primo Brands from $40.00 to $37.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.30.

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.