Primo Brands Co. (NYSE:PRMB - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $35.00 to $38.00. Royal Bank of Canada currently has an outperform rating on the stock. Primo Brands traded as high as $32.29 and last traded at $31.89, with a volume of 70547 shares changing hands. The stock had previously closed at $31.85.
A number of other brokerages have also commented on PRMB. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Primo Brands in a research report on Monday, November 18th. They set a "buy" rating and a $33.00 target price on the stock. BMO Capital Markets initiated coverage on shares of Primo Brands in a research report on Monday. They set an "outperform" rating and a $40.00 target price on the stock.
View Our Latest Report on PRMB
Institutional Investors Weigh In On Primo Brands
An institutional investor recently bought a new position in Primo Brands stock. Rise Advisors LLC bought a new stake in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 915 shares of the company's stock, valued at approximately $28,000. Institutional investors own 87.71% of the company's stock.
Primo Brands Trading Down 0.3 %
The stock has a market cap of $12.05 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.
Primo Brands Dividend Announcement
The company also recently disclosed 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 1.13%. Primo Brands's payout ratio is 22.36%.
About Primo Brands
(
Get Free Report)
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.
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