Stock Traders Buy High Volume of Primo Brands Call Options (NYSE:PRMB)

Primo Brands Corporation (NYSE:PRMB) was the target of some unusual options trading activity on Tuesday. Stock traders bought 10,005 call options on the stock. This is an increase of 333% compared to the average volume of 2,311 call options.

Primo Brands Price Performance

Shares of Primo Brands stock traded down $0.12 during trading on Tuesday, hitting $24.00. The stock had a trading volume of 1,100,567 shares, compared to its average volume of 4,666,782. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 2.12 and a beta of 0.73. Primo Brands has a 12 month low of $14.80 and a 12 month high of $26.21. The business’s 50-day moving average is $20.33 and its 200 day moving average is $21.48. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71.

Primo Brands (NYSE:PRMB) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. Primo Brands had a return on equity of 14.24% and a net margin of 1.49%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Primo Brands will post 1.27 earnings per share for the current year.

Primo Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Primo Brands’s payout ratio is presently 85.71%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRMB. Allspring Global Investments Holdings LLC raised its stake in Primo Brands by 57.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,050,888 shares of the company’s stock valued at $133,050,000 after purchasing an additional 2,585,164 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Primo Brands by 41.7% in the 1st quarter. Bank of America Corp DE now owns 6,067,351 shares of the company’s stock worth $114,248,000 after buying an additional 1,785,259 shares during the last quarter. KBC Group NV increased its holdings in shares of Primo Brands by 49.2% in the 1st quarter. KBC Group NV now owns 5,041,625 shares of the company’s stock worth $94,934,000 after buying an additional 1,661,569 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Primo Brands by 2,881.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,954,180 shares of the company’s stock valued at $37,227,000 after buying an additional 1,888,636 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Primo Brands by 226.7% during the 2nd quarter. Tidal Investments LLC now owns 1,150,675 shares of the company’s stock valued at $28,122,000 after buying an additional 798,488 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on PRMB shares. TD upped their price target on shares of Primo Brands from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Primo Brands in a research note on Wednesday, November 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Primo Brands in a report on Wednesday, November 4th. TD Cowen restated a “buy” rating on shares of Primo Brands in a research report on Thursday, August 6th. Finally, Zacks Research lowered Primo Brands from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.73.

Primo Brands Company Profile

Primo Brands is a North American beverage company focused on bottled water and water-related products and services. Its offerings include spring, purified and mineral water, water dispensers and filtration products, as well as water delivery for homes and businesses.

The company’s portfolio includes brands such as Poland Spring, Deer Park, Pure Life, Ice Mountain, Ozarka, Arrowhead and Primo. Its products are sold through retail channels and delivered directly to consumers and businesses.

Primo Brands was formed in 2024 through the combination of Primo Water Corporation and BlueTriton Brands.