Green Alpha Advisors LLC Acquires New Position in Primo Brands Co. (NYSE:PRMB)

Green Alpha Advisors LLC acquired a new position in shares of Primo Brands Co. (NYSE:PRMBFree 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.

View Our Latest Report on Primo Brands

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

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PRMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primo Brands Co. (NYSE:PRMBFree Report).

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