BMO Capital Markets Begins Coverage on Primo Brands (NYSE:PRMB)

BMO Capital Markets started coverage on shares of Primo Brands (NYSE:PRMB) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $40.00 price objective on the stock.

Separately, Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price for the company.

Primo Brands Trading Down 2.7 %

Shares of NYSE PRMB opened at $30.83 on Monday. Primo Brands has a 52-week low of $14.06 and a 52-week high of $32.40. The company has a market capitalization of $11.69 billion, a P/E ratio of 19.15, a PEG ratio of 0.95 and a beta of 1.09. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

Primo Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, November 22nd. Primo Brands’s dividend payout ratio (DPR) is 22.36%.

Institutional Trading of Primo Brands

A hedge fund recently bought a new stake in Primo Brands stock. Rise Advisors LLC acquired a new position in shares of Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 915 shares of the company’s stock, valued at approximately $28,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Primo Brands

Primo Water Corporation is a leading pure-play water solutions provider in North America and Europe. Primo operates largely under a recurring razor/razorblade revenue model. The razor in Primo’s revenue model is its industry leading line-up of sleek and innovative water dispensers, which are sold through major retailers and online at various price points or leased to customers.