Dynamic Advisor Solutions LLC Buys New Stake in Primo Brands Co. (NYSE:PRMB)

Dynamic Advisor Solutions LLC bought a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 61,339 shares of the company's stock, valued at approximately $1,887,000.

Several other hedge funds have also recently modified their holdings of PRMB. Green Alpha Advisors LLC purchased a new position in Primo Brands during the 4th quarter worth approximately $835,000. Fulton Bank N.A. purchased a new position in shares of Primo Brands during the fourth quarter worth $669,000. Procyon Advisors LLC purchased a new stake in Primo Brands in the fourth quarter valued at $553,000. Nisa Investment Advisors LLC purchased a new position in shares of Primo Brands during the 4th quarter valued at about $176,000. Finally, Rise Advisors LLC acquired a new stake in Primo Brands during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

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

Primo Brands Trading Up 0.3 %

NYSE PRMB traded up $0.09 on Friday, reaching $32.66. 1,178,445 shares of the company were exchanged, compared to its average volume of 1,764,796. Primo Brands Co. has a fifty-two week low of $14.10 and a fifty-two week high of $33.65. The company has a market cap of $12.39 billion, a PE ratio of 20.28, a P/E/G ratio of 0.81 and a beta of 1.09. The firm has a fifty day simple moving average of $30.61. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a dividend of $0.09 per share. 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 payout ratio is 27.95%.

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.