Rise Advisors LLC Takes Position in Primo Brands Co. (NYSE:PRMB)

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

Analysts Set New Price Targets

PRMB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Primo Brands in a report on Monday, November 18th. They set a “buy” rating and a $33.00 price objective on the stock. BMO Capital Markets started coverage on Primo Brands in a research report on Monday. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday.

Primo Brands Stock Performance

Shares of NYSE PRMB traded down $0.08 during midday trading on Tuesday, reaching $31.77. 1,028,620 shares of the company were exchanged, compared to its average volume of 2,528,052. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.05 billion, a P/E ratio of 19.73, 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 $32.29.

Primo Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.36 annualized dividend and a yield of 1.13%. Primo Brands’s dividend payout ratio is currently 22.36%.

Primo Brands 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.