Dynamic Advisor Solutions LLC Takes Position in Primo Brands Co. (NYSE:PRMB)

Dynamic Advisor Solutions LLC bought a new stake in Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 61,339 shares of the company’s stock, valued at approximately $1,887,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Green Alpha Advisors LLC bought a new stake in shares of Primo Brands during the fourth quarter worth about $835,000. Fulton Bank N.A. acquired a new position in Primo Brands during the 4th quarter valued at about $669,000. Procyon Advisors LLC bought a new stake in Primo Brands during the 4th quarter worth approximately $553,000. Rise Advisors LLC purchased a new stake in shares of Primo Brands in the fourth quarter worth approximately $28,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $176,000. 87.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRMB. 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 price target for the company. Royal Bank of Canada increased their target price on shares of Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 6th. 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 for the company.

Primo Brands Price Performance

Shares of Primo Brands stock opened at $32.66 on Friday. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 0.81 and a beta of 1.09. Primo Brands Co. has a 1 year low of $14.10 and a 1 year high of $33.65. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $30.61.

Primo Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, November 22nd. Primo Brands’s dividend payout ratio is 27.95%.

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.