Primo Brands (NYSE:PRMB) Price Target Raised to $38.00

Primo Brands (NYSE:PRMB) had its target price raised by Royal Bank of Canada from $35.00 to $38.00 in a research report report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft started coverage on Primo Brands in a research note on Monday, November 18th. They issued a “buy” rating and a $33.00 target price on the stock. BMO Capital Markets initiated coverage on Primo Brands in a report on Monday. They set an “outperform” rating and a $40.00 target price for the company.

Primo Brands Price Performance

Shares of PRMB opened at $30.83 on Monday. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 0.95 and a beta of 1.09. Primo Brands has a twelve month low of $14.06 and a twelve month high of $32.40. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were paid a $0.09 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. Primo Brands’s payout ratio is 22.36%.

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 position in Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to its most recent Form 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 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.