Primo Brands Co. (NYSE:PRMB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $32.40 and last traded at $32.44, with a volume of 734531 shares changing hands. The stock had previously closed at $32.13.
A number of research firms recently commented on PRMB. Deutsche Bank Aktiengesellschaft started 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. BMO Capital Markets assumed coverage on shares of Primo Brands in a report on Monday, January 6th. They set an "outperform" rating and a $40.00 price target for the company. Finally, Royal Bank of Canada boosted 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.
Read Our Latest Report on PRMB
The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 0.76 and a beta of 1.09. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a 50-day simple moving average of $30.28.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Friday, November 22nd were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.12%. Primo Brands's dividend payout ratio (DPR) is 22.36%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Green Alpha Advisors LLC purchased a new stake in Primo Brands during the fourth quarter worth approximately $835,000. Fulton Bank N.A. acquired a new position in shares of Primo Brands during the 4th quarter valued at $669,000. Rise Advisors LLC purchased a new stake in Primo Brands during the 4th quarter worth $28,000. Finally, Procyon Advisors LLC acquired a new stake in Primo Brands in the 4th quarter valued at $553,000. Institutional investors and hedge funds own 87.71% of the company's stock.
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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