TD Securities Issues Positive Forecast for Primo Brands (NYSE:PRMB) Stock Price

Primo Brands (NYSE:PRMB) had its target price upped by TD Securities from $32.00 to $40.00 in a report released on Monday morning,Benzinga reports. TD Securities currently has a buy rating on the stock.

Several other brokerages also recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a research note on Monday, November 18th. They issued a “buy” rating and a $33.00 price objective for the company. BMO Capital Markets assumed 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 for the company. Finally, Royal Bank of Canada boosted their price objective 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 Stock Down 0.2 %

PRMB opened at $32.66 on Monday. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 0.81 and a beta of 1.09. The firm has a fifty day simple moving average of $30.71. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Brands has a 12-month low of $14.10 and a 12-month high of $33.65.

Primo Brands Announces Dividend

The company also recently declared 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 of this dividend was Friday, November 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.10%. Primo Brands’s dividend payout ratio is 27.95%.

Institutional Trading of Primo Brands

Large investors have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in Primo Brands in the 4th quarter worth approximately $49,585,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Primo Brands in the fourth quarter valued at approximately $4,350,000. Strategic Blueprint LLC acquired a new stake in shares of Primo Brands in the fourth quarter worth $2,355,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Primo Brands in the fourth quarter worth $1,887,000. Finally, Green Alpha Advisors LLC bought a new stake in shares of Primo Brands during the 4th quarter worth $835,000. 87.71% of the stock is owned by institutional investors.

Primo Brands Company 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.