Primo Brands (NYSE:PRMB) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Primo Brands (NYSE:PRMB) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued an outperform rating and a $40.00 target price on the stock.

Separately, 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.

Primo Brands Price Performance

Shares of NYSE PRMB opened at $30.83 on Monday. Primo Brands has a 1-year low of $14.06 and a 1-year high of $32.40. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 0.95 and a beta of 1.09.

Primo Brands Dividend Announcement

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Primo Brands stock. Rise Advisors LLC acquired a new stake in shares of Primo Brands Co. (NYSE:PRMB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 915 shares of the company’s stock, valued at approximately $28,000. 87.71% of the stock is currently 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.