Caliber Wealth Management LLC KS Acquires Shares of 7,833 Primo Brands Corporation $PRMB

Caliber Wealth Management LLC KS acquired a new stake in shares of Primo Brands Corporation (NYSE:PRMB) in the second quarter, HoldingsChannel reports. The fund acquired 7,833 shares of the company’s stock, valued at approximately $232,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Primo Brands by 28.7% in the 1st quarter. Vanguard Group Inc. now owns 19,704,538 shares of the company’s stock worth $699,314,000 after acquiring an additional 4,389,327 shares in the last quarter. Boston Partners grew its position in shares of Primo Brands by 9,613.2% in the 1st quarter. Boston Partners now owns 7,117,540 shares of the company’s stock worth $252,552,000 after acquiring an additional 7,044,263 shares in the last quarter. Eminence Capital LP grew its position in shares of Primo Brands by 48.3% in the 1st quarter. Eminence Capital LP now owns 7,019,075 shares of the company’s stock worth $249,107,000 after acquiring an additional 2,284,912 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Primo Brands in the 1st quarter worth approximately $184,225,000. Finally, Samlyn Capital LLC grew its position in shares of Primo Brands by 401.8% in the 1st quarter. Samlyn Capital LLC now owns 4,656,312 shares of the company’s stock worth $165,253,000 after acquiring an additional 3,728,344 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Trading Up 0.7%

Shares of NYSE PRMB opened at $22.43 on Thursday. The company has a market cap of $8.38 billion, a price-to-earnings ratio of -203.87, a price-to-earnings-growth ratio of 0.59 and a beta of 0.76. Primo Brands Corporation has a 12-month low of $21.37 and a 12-month high of $35.85. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 1.55. The stock’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 quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.05). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.83 billion. Primo Brands had a positive return on equity of 9.64% and a negative net margin of 1.20%.Primo Brands’s revenue for the quarter was up 31.6% on a year-over-year basis. 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 year.

Primo Brands Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on PRMB. Royal Bank Of Canada decreased their target price on Primo Brands from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Zacks Research upgraded Primo Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. The Goldman Sachs Group began coverage on Primo Brands in a research report on Thursday, September 11th. They issued a “neutral” rating and a $25.00 target price for the company. 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 research report on Friday, August 8th. Finally, Mizuho cut their price target on Primo Brands from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, August 20th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Primo Brands currently has an average rating of “Moderate Buy” and an average price target of $34.00.

Insider Buying and Selling at Primo Brands

In other Primo Brands news, CEO Robbert Rietbroek bought 8,285 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $24.12 per share, with a total value of $199,834.20. Following the purchase, the chief executive officer directly owned 586,349 shares of the company’s stock, valued at approximately $14,142,737.88. The trade was a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven P. Stanbrook bought 12,400 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $24.04 per share, for a total transaction of $298,096.00. Following the purchase, the director directly 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 have acquired 24,685 shares of company stock valued at $595,770 in the last quarter. Corporate insiders own 58.40% of the company’s stock.

Primo Brands Company 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.