61,339 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC bought a new stake in Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 recently modified their holdings of the stock. Green Alpha Advisors LLC acquired a new stake in Primo Brands during the 4th quarter worth approximately $835,000. Fulton Bank N.A. acquired a new position in shares of Primo Brands during the fourth quarter worth $669,000. Procyon Advisors LLC bought a new stake in shares of Primo Brands in the fourth quarter worth $553,000. Nisa Investment Advisors LLC acquired a new stake in Primo Brands in the fourth quarter valued at $176,000. Finally, Rise Advisors LLC bought a new position in Primo Brands during the 4th quarter worth $28,000. Institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Royal Bank of Canada upped their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Primo Brands in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on shares of Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price target for the company.

Primo Brands Price Performance

Shares of NYSE:PRMB opened at $32.66 on Friday. Primo Brands Co. has a 1 year low of $14.10 and a 1 year high of $33.65. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The company has a 50-day simple moving average of $30.61. The firm has a market cap of $12.39 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were paid 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 (DPR) 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.