Choreo LLC Makes New Investment in Primo Brands Co. (NYSE:PRMB)

Choreo LLC bought a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,981 shares of the company's stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Green Alpha Advisors LLC acquired a new position in Primo Brands during the fourth quarter worth about $835,000. Fulton Bank N.A. acquired a new position in Primo Brands during the fourth quarter worth about $669,000. Robeco Institutional Asset Management B.V. acquired a new position in Primo Brands during the fourth quarter worth about $4,350,000. Drive Wealth Management LLC acquired a new position in Primo Brands during the fourth quarter worth about $241,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Primo Brands in the fourth quarter valued at approximately $1,887,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Stock Down 0.6 %

Shares of PRMB traded down $0.19 on Tuesday, hitting $32.98. 252,045 shares of the stock traded hands, compared to its average volume of 1,751,656. 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 stock has a market cap of $12.51 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 0.83 and a beta of 1.10. The firm has a 50 day moving average price of $31.96. Primo Brands Co. has a 1 year low of $14.10 and a 1 year high of $34.14.

Analysts Set New Price Targets

PRMB has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an "outperform" rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Primo Brands in a research report on Monday, November 18th. They issued a "buy" rating and a $33.00 price target on the stock. TD Securities increased their price target on shares of Primo Brands from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, January 6th.

Primo Brands Company Profile

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.