Rise Advisors LLC Buys Shares of 915 Primo Brands Co. (NYSE:PRMB)

Rise Advisors LLC bought a new position in shares of Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 915 shares of the company’s stock, valued at approximately $28,000.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets began coverage on Primo Brands in a research report on Monday. They issued an “outperform” rating and a $40.00 price target for the company. Royal Bank of Canada increased their target price on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 price target for the company.

Primo Brands Trading Down 0.3 %

Shares of PRMB stock traded down $0.08 on Tuesday, reaching $31.77. 1,028,620 shares of the stock were exchanged, compared to its average volume of 2,528,052. Primo Brands Co. has a 1-year low of $14.06 and a 1-year high of $32.29. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 19.73, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Friday, November 22nd. 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.