Entropy Technologies LP acquired a new stake in Primo Brands Co. (NYSE:PRMB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,665 shares of the company's stock, valued at approximately $236,000.
A number of other hedge funds have also modified their holdings of PRMB. Green Alpha Advisors LLC bought a new stake in Primo Brands in the fourth quarter valued at $835,000. Fulton Bank N.A. acquired a new stake in shares of Primo Brands in the 4th quarter valued at $669,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Primo Brands in the 4th quarter valued at $4,350,000. Drive Wealth Management LLC bought a new stake in shares of Primo Brands in the 4th quarter worth about $241,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Primo Brands during the 4th quarter worth about $1,887,000. 87.71% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
PRMB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed 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. Royal Bank of Canada boosted 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. TD Securities raised their price target on Primo Brands from $32.00 to $40.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, BMO Capital Markets initiated coverage on Primo Brands in a research note on Monday, January 6th. They issued an "outperform" rating and a $40.00 price objective on the stock.
Check Out Our Latest Stock Report on PRMB
Primo Brands Stock Performance
Shares of NYSE PRMB traded down $0.35 during trading on Monday, reaching $33.20. The company had a trading volume of 1,791,892 shares, compared to its average volume of 1,508,215. Primo Brands Co. has a 52 week low of $14.10 and a 52 week high of $34.14. The business's 50 day moving average is $31.96. The stock has a market cap of $12.59 billion, a PE ratio of 20.62, a PEG ratio of 0.83 and a beta of 1.10. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.
About Primo Brands
(
Free Report)
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.
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