Robeco Institutional Asset Management B.V. Invests $4.35 Million in Primo Brands Co. (NYSE:PRMB)

Robeco Institutional Asset Management B.V. bought a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 141,370 shares of the company's stock, valued at approximately $4,350,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new position in Primo Brands in the fourth quarter valued at about $28,000. R Squared Ltd acquired a new position in shares of Primo Brands in the 4th quarter valued at approximately $42,000. Nisa Investment Advisors LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at approximately $176,000. Drive Wealth Management LLC acquired a new stake in shares of Primo Brands during the fourth quarter worth approximately $241,000. Finally, Procyon Advisors LLC bought a new stake in shares of Primo Brands in the fourth quarter worth $553,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on PRMB. BMO Capital Markets initiated coverage on shares of Primo Brands in a research note on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Primo Brands in a research report on Monday, November 18th. They set a "buy" rating and a $33.00 price target on the stock. TD Securities boosted their price objective on Primo Brands from $32.00 to $40.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, 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 report on Monday, January 6th.

Primo Brands Stock Down 0.0 %

Shares of NYSE:PRMB traded down $0.01 on Thursday, reaching $33.52. 1,045,353 shares of the company's stock were exchanged, compared to its average volume of 1,854,414. Primo Brands Co. has a fifty-two week low of $14.10 and a fifty-two week high of $34.14. The business has a 50-day simple moving average of $31.35. 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 market cap of $12.71 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 0.80 and a beta of 1.10.

Primo Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a $0.09 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. Primo Brands's dividend payout ratio is currently 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.