Primo Brands (NYSE:PRMB) Given New $40.00 Price Target at TD Securities

Primo Brands (NYSE:PRMB) had its price target boosted by TD Securities from $32.00 to $40.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of 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 Primo Brands in a report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 6th.

Primo Brands Price Performance

NYSE:PRMB opened at $32.66 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 one year low of $14.10 and a one year high of $33.65. The firm’s fifty day moving average is $30.71. The firm has a market cap of $12.39 billion, a PE ratio of 20.29, a P/E/G ratio of 0.81 and a beta of 1.09.

Primo Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Friday, November 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, November 22nd. Primo Brands’s dividend payout ratio (DPR) is presently 27.95%.

Hedge Funds Weigh In On Primo Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV bought a new stake in Primo Brands in the fourth quarter valued at $49,585,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Primo Brands in the 4th quarter valued at $4,350,000. Strategic Blueprint LLC bought a new stake in shares of Primo Brands in the 4th quarter worth about $2,355,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Primo Brands during the 4th quarter worth about $1,887,000. Finally, Green Alpha Advisors LLC bought a new position in Primo Brands during the 4th quarter valued at about $835,000. Institutional investors own 87.71% of the company’s stock.

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.