Nisa Investment Advisors LLC bought a new stake in Primo Brands Co. (NYSE:PRMB – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,720 shares of the company’s stock, valued at approximately $176,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Procyon Advisors LLC bought a new stake in shares of Primo Brands during the 4th quarter worth $553,000. Green Alpha Advisors LLC acquired a new position in Primo Brands during the fourth quarter worth about $835,000. Fulton Bank N.A. bought a new position in shares of Primo Brands in the fourth quarter worth about $669,000. Finally, Rise Advisors LLC acquired a new stake in shares of Primo Brands in the 4th quarter valued at approximately $28,000. Institutional investors own 87.71% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently issued reports on PRMB. TD Securities upped their price objective on shares of Primo Brands from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada increased their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on Primo Brands in a research report on Monday, November 18th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, BMO Capital Markets assumed coverage on Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price for the company.
Primo Brands Stock Performance
PRMB stock opened at $33.19 on Friday. The company has a market capitalization of $12.59 billion, a P/E ratio of 20.61, a P/E/G ratio of 0.81 and a beta of 1.09. The company’s fifty day simple moving average is $30.98. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Brands Co. has a 52-week low of $14.10 and a 52-week high of $33.65.
Primo Brands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, November 22nd. Primo Brands’s payout ratio is presently 27.95%.
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.
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