Strategic Blueprint LLC Invests $2.36 Million in Primo Brands Co. (NYSE:PRMB)

Strategic Blueprint LLC bought a new position in shares of Primo Brands Co. (NYSE:PRMB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,521 shares of the company's stock, valued at approximately $2,355,000.

A number of other large investors have also modified their holdings of the business. Rise Advisors LLC purchased a new position in Primo Brands in the fourth quarter valued at $28,000. R Squared Ltd purchased a new position in Primo Brands in the 4th quarter valued at approximately $42,000. Nisa Investment Advisors LLC purchased a new stake in Primo Brands during the fourth quarter worth $176,000. Drive Wealth Management LLC acquired a new stake in Primo Brands in the fourth quarter valued at $241,000. Finally, Procyon Advisors LLC acquired a new position in shares of Primo Brands during the 4th quarter worth $553,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Primo Brands Stock Performance

NYSE:PRMB traded up $0.23 during trading hours on Thursday, hitting $32.57. 353,026 shares of the company's stock traded hands, compared to its average volume of 1,849,098. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 20.25, a P/E/G ratio of 0.81 and a beta of 1.09. Primo Brands Co. has a twelve month low of $14.10 and a twelve month high of $33.65. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock has a fifty day moving average price of $30.88.

Primo Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.09 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.11%. Primo Brands's payout ratio is 27.95%.

Analyst Upgrades and Downgrades

Several analysts have commented on PRMB shares. BMO Capital Markets began coverage on shares of Primo Brands in a research note on Monday, January 6th. They issued an "outperform" rating and a $40.00 target price for the company. TD Securities boosted their target price on shares of Primo Brands from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Monday. Royal Bank of Canada lifted their price objective on shares of Primo Brands from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Primo Brands in a research report on Monday, November 18th. They set a "buy" rating and a $33.00 price target on the stock.

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.