Primo Brands Sees Unusually High Options Volume (NYSE:PRMB)

Primo Brands Corporation (NYSE:PRMB) saw some unusual options trading on Monday. Investors acquired 36,430 call options on the stock. This represents an increase of 646% compared to the typical volume of 4,885 call options.

Primo Brands Price Performance

Shares of Primo Brands stock traded down $0.25 on Monday, reaching $24.70. The company’s stock had a trading volume of 2,807,061 shares, compared to its average volume of 4,919,771. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $8.96 billion, a P/E ratio of 176.71, a PEG ratio of 2.15 and a beta of 0.72. The stock has a 50-day moving average price of $22.81 and a 200-day moving average price of $20.16. Primo Brands has a 52-week low of $14.36 and a 52-week high of $30.98.

Primo Brands (NYSE:PRMB) last announced its earnings results on Thursday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Primo Brands had a net margin of 0.88% and a return on equity of 13.98%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the business earned $0.29 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Analysts expect that Primo Brands will post 1.25 EPS for the current year.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 4th. Primo Brands’s dividend payout ratio (DPR) is presently 342.86%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PRMB shares. Barclays upped their price objective on Primo Brands from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Primo Brands from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. lowered their price target on shares of Primo Brands from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Weiss Ratings raised shares of Primo Brands from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Primo Brands from $24.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Primo Brands currently has an average rating of “Moderate Buy” and a consensus price target of $25.91.

Institutional Trading of Primo Brands

A number of institutional investors and hedge funds have recently modified their holdings of PRMB. Dynamic Technology Lab Private Ltd purchased a new position in Primo Brands in the 1st quarter valued at about $229,000. Caxton Associates LLP acquired a new position in shares of Primo Brands during the first quarter valued at approximately $266,000. American Century Companies Inc. lifted its position in shares of Primo Brands by 9.3% in the second quarter. American Century Companies Inc. now owns 27,226 shares of the company’s stock valued at $806,000 after acquiring an additional 2,318 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Primo Brands by 797.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 54,589 shares of the company’s stock valued at $1,617,000 after acquiring an additional 48,509 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Primo Brands by 29.1% in the second quarter. Invesco Ltd. now owns 301,535 shares of the company’s stock worth $8,931,000 after acquiring an additional 67,930 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.