Primo Brands Corporation $PRMB Shares Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Primo Brands Corporation (NYSE:PRMB) by 249.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,792 shares of the company’s stock after buying an additional 55,505 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Primo Brands were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PRMB. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Primo Brands during the 2nd quarter worth about $26,000. Byrne Asset Management LLC purchased a new position in Primo Brands in the third quarter valued at approximately $47,000. 1620 Investment Advisors Inc. acquired a new stake in Primo Brands during the third quarter worth approximately $54,000. Blue Trust Inc. purchased a new stake in shares of Primo Brands during the 3rd quarter worth approximately $57,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Primo Brands by 102.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,091 shares of the company’s stock valued at $62,000 after buying an additional 1,058 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Brands Trading Down 0.2%

NYSE:PRMB opened at $18.93 on Friday. Primo Brands Corporation has a 12-month low of $14.36 and a 12-month high of $35.85. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 1.59. The stock’s 50 day simple moving average is $17.04 and its 200-day simple moving average is $21.03. The firm has a market cap of $7.01 billion, a P/E ratio of -61.06, a PEG ratio of 0.64 and a beta of 0.63.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.78 billion. Primo Brands had a negative net margin of 1.30% and a positive return on equity of 12.52%. Primo Brands’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities analysts anticipate that Primo Brands Corporation will post 1.13 EPS for the current year.

Primo Brands declared that its board has authorized a share buyback program on Monday, November 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Primo Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 25th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, November 25th. Primo Brands’s dividend payout ratio is currently -129.03%.

Insiders Place Their Bets

In other Primo Brands news, Director Steven P. Stanbrook bought 54,540 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were bought at an average price of $16.43 per share, for a total transaction of $896,092.20. Following the transaction, the director owned 181,601 shares of the company’s stock, valued at approximately $2,983,704.43. This trade represents a 42.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David W. Hass bought 15,910 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average cost of $15.71 per share, with a total value of $249,946.10. Following the completion of the purchase, the chief financial officer owned 64,745 shares in the company, valued at approximately $1,017,143.95. This represents a 32.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 203,469 shares of company stock worth $3,214,674 over the last quarter. 58.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

PRMB has been the topic of several research analyst reports. Jefferies Financial Group assumed coverage on shares of Primo Brands in a research note on Friday, October 17th. They set a “hold” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on Primo Brands from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. Morgan Stanley restated an “overweight” rating on shares of Primo Brands in a research note on Monday, January 5th. Mizuho reduced their price objective on Primo Brands from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group lowered their target price on shares of Primo Brands from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.83.

Primo Brands Profile

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.