Cwm LLC Reduces Position in Primo Brands Corporation $PRMB

Cwm LLC lessened its stake in shares of Primo Brands Corporation (NYSE:PRMB) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,277 shares of the company’s stock after selling 698 shares during the period. Cwm LLC’s holdings in Primo Brands were worth $127,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IFP Advisors Inc purchased a new stake in shares of Primo Brands in the 1st quarter valued at $40,000. New Age Alpha Advisors LLC purchased a new stake in shares of Primo Brands in the 1st quarter valued at $43,000. Millstone Evans Group LLC purchased a new stake in shares of Primo Brands in the 1st quarter valued at $54,000. GAMMA Investing LLC boosted its holdings in shares of Primo Brands by 34.5% in the 1st quarter. GAMMA Investing LLC now owns 1,942 shares of the company’s stock valued at $69,000 after acquiring an additional 498 shares during the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in shares of Primo Brands in the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

PRMB has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Primo Brands in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Primo Brands from $37.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group initiated coverage on shares of Primo Brands in a report on Thursday, September 11th. They set a “neutral” rating and a $25.00 price target on the stock. Royal Bank Of Canada lowered their price target on shares of Primo Brands from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, TD Securities lowered their price target on shares of Primo Brands from $48.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.08.

Primo Brands Trading Up 0.6%

Shares of PRMB stock opened at $21.95 on Friday. The company’s 50-day moving average price is $22.96 and its 200-day moving average price is $27.47. 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 has a market cap of $8.20 billion, a price-to-earnings ratio of -199.52, a PEG ratio of 0.61 and a beta of 0.76. Primo Brands Corporation has a twelve month low of $21.37 and a twelve month high of $35.85.

Primo Brands (NYSE:PRMB) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). Primo Brands had a positive return on equity of 9.64% and a negative net margin of 1.20%.The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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. As a group, equities analysts predict that Primo Brands Corporation will post 1.13 earnings per share for the current year.

Primo Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, August 21st. Primo Brands’s dividend payout ratio (DPR) is currently -363.64%.

Insider Activity at Primo Brands

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

About Primo Brands

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.