Green Alpha Advisors LLC Purchases New Shares in Primo Brands Co. (NYSE:PRMB)

Green Alpha Advisors LLC bought a new position in Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,148 shares of the company's stock, valued at approximately $835,000.

Separately, Fulton Bank N.A. bought a new stake in Primo Brands in the fourth quarter worth approximately $669,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Brands Stock Down 0.6 %

NYSE:PRMB traded down $0.17 during mid-day trading on Monday, reaching $30.63. 1,619,607 shares of the company were exchanged, compared to its average volume of 2,647,101. Primo Brands Co. has a 12 month low of $14.06 and a 12 month high of $32.40. 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 $11.62 billion, a P/E ratio of 19.02, a P/E/G ratio of 0.95 and a beta of 1.09.

Primo Brands Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, November 22nd. Primo Brands's payout ratio is currently 22.36%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft began coverage on shares of Primo Brands in a report on Monday, November 18th. They set a "buy" rating and a $33.00 price objective for the company. BMO Capital Markets began coverage on shares of Primo Brands in a report on Monday, January 6th. They set an "outperform" rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, January 6th.

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.