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

Primo Brands Co. (NYSE:PRMB) was the target of unusually large options trading activity on Tuesday. Traders purchased 3,748 call options on the company. This is an increase of 183% compared to the average daily volume of 1,326 call options.

Institutional Trading of Primo Brands

Several institutional investors have recently bought and sold shares of PRMB. Rise Advisors LLC acquired a new stake in shares of Primo Brands in the 4th quarter valued at $28,000. SRS Capital Advisors Inc. acquired a new position in Primo Brands in the fourth quarter valued at about $30,000. EverSource Wealth Advisors LLC bought a new stake in Primo Brands during the fourth quarter worth about $30,000. Blue Trust Inc. acquired a new stake in shares of Primo Brands during the fourth quarter worth approximately $33,000. Finally, R Squared Ltd bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Brands Trading Up 2.3 %

PRMB opened at $32.95 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $12.52 billion, a PE ratio of 39.87, a price-to-earnings-growth ratio of 0.78 and a beta of 0.82. The company has a 50 day simple moving average of $33.16. Primo Brands has a 1-year low of $24.41 and a 1-year high of $35.85.

Primo Brands (NYSE:PRMB) last issued its earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.08). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primo Brands had a positive return on equity of 10.27% and a negative net margin of 2.74%. Equities analysts predict that Primo Brands will post 1.13 EPS for the current year.

Primo Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Primo Brands’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.21%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRMB. BMO Capital Markets started coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price for the company. Truist Financial began coverage on Primo Brands in a research note on Friday, April 4th. They issued a “buy” rating and a $42.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Primo Brands from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada boosted their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, TD Securities assumed coverage on shares of Primo Brands in a research report on Tuesday, April 8th. They set a “buy” rating and a $48.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Brands has a consensus rating of “Buy” and a consensus price target of $41.50.

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.