141,370 Shares in Primo Brands Co. (NYSE:PRMB) Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. purchased a new stake in shares of Primo Brands Co. (NYSE:PRMB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 141,370 shares of the company’s stock, valued at approximately $4,350,000.

Several other large investors have also recently made changes to their positions in the business. Rise Advisors LLC bought a new position in shares of Primo Brands in the fourth quarter worth approximately $28,000. R Squared Ltd bought a new stake in Primo Brands in the 4th quarter worth $42,000. Nisa Investment Advisors LLC purchased a new position in shares of Primo Brands in the fourth quarter valued at about $176,000. Drive Wealth Management LLC bought a new position in shares of Primo Brands during the fourth quarter valued at about $241,000. Finally, Procyon Advisors LLC purchased a new stake in shares of Primo Brands during the fourth quarter worth about $553,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Brands Stock Down 2.1 %

PRMB opened at $32.51 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 Co. has a 52 week low of $14.10 and a 52 week high of $33.65. The stock has a market cap of $12.33 billion, a PE ratio of 20.19, a PEG ratio of 0.80 and a beta of 1.09. The company has a 50 day moving average price of $31.05.

Primo Brands Announces Dividend

The firm also recently announced 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, November 22nd. Primo Brands’s dividend payout ratio (DPR) is presently 27.95%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRMB. 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. BMO Capital Markets started coverage on Primo Brands in a report on Monday, January 6th. They set an “outperform” rating and a $40.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Primo Brands in a report on Monday, November 18th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, TD Securities upped their price objective on shares of Primo Brands from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 27th.

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.