Green Alpha Advisors LLC acquired a new position in shares of Primo Brands Co. (NYSE:PRMB – Free Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 27,148 shares of the company’s stock, valued at approximately $835,000.
Separately, Fulton Bank N.A. purchased a new stake in shares of Primo Brands during the 4th quarter worth approximately $669,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on PRMB. Royal Bank of Canada raised their price objective on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. BMO Capital Markets initiated coverage on Primo Brands in a research note on Monday, January 6th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Primo Brands in a research report on Monday, November 18th. They issued a “buy” rating and a $33.00 price objective on the stock.
Primo Brands Stock Down 0.2 %
PRMB stock opened at $30.79 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a market capitalization of $11.68 billion, a P/E ratio of 19.12, a P/E/G ratio of 0.95 and a beta of 1.09. Primo Brands Co. has a 1 year low of $14.06 and a 1 year high of $32.40.
Primo Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. Primo Brands’s dividend payout ratio is currently 22.36%.
Primo Brands Company Profile
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.
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