Strategic Blueprint LLC Takes Position in Primo Brands Co. (NYSE:PRMB)

Strategic Blueprint LLC purchased a new stake in Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 76,521 shares of the company’s stock, valued at approximately $2,355,000.

Several other hedge funds have also recently bought and sold shares of PRMB. KBC Group NV purchased a new stake in Primo Brands during the 4th quarter worth about $49,585,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Primo Brands in the 4th quarter valued at about $4,350,000. Dynamic Advisor Solutions LLC purchased a new position in Primo Brands during the 4th quarter worth approximately $1,887,000. Green Alpha Advisors LLC purchased a new position in Primo Brands during the 4th quarter worth approximately $835,000. Finally, Fulton Bank N.A. acquired a new stake in Primo Brands during the 4th quarter worth approximately $669,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRMB. Deutsche Bank Aktiengesellschaft initiated coverage on Primo Brands in a research report on Monday, November 18th. They set a “buy” rating and a $33.00 price objective for the company. Royal Bank of Canada raised their price target on Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 6th. TD Securities lifted their price objective on Primo Brands from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Finally, BMO Capital Markets began coverage on Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 price objective for the company.

Primo Brands Stock Down 1.7 %

Shares of NYSE:PRMB opened at $32.34 on Thursday. The stock has a market capitalization of $12.27 billion, a P/E ratio of 20.09, a P/E/G ratio of 0.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Brands Co. has a 52 week low of $14.10 and a 52 week high of $33.65. The firm has a fifty day simple moving average of $30.88.

Primo Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, November 22nd. Primo Brands’s dividend payout ratio is currently 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.