Primo Brands (NYSE:PRMB) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

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

A number of other research analysts also recently issued reports on PRMB. Deutsche Bank Aktiengesellschaft assumed coverage on Primo Brands in a report on Monday, November 18th. They set a “buy” rating and a $33.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Primo Brands in a report on Monday. They set an “outperform” rating and a $40.00 price target on the stock.

Primo Brands Stock Down 2.7 %

PRMB stock opened at $30.83 on Monday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Brands has a 12-month low of $14.06 and a 12-month high of $32.40. The company has a market capitalization of $11.69 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09.

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 paid a $0.09 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. Primo Brands’s dividend payout ratio (DPR) is currently 22.36%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Primo Brands stock. Rise Advisors LLC purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 915 shares of the company’s stock, valued at approximately $28,000. 87.71% of the stock is owned by institutional investors and hedge funds.

About Primo Brands

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.