Fulton Bank N.A. Invests $669,000 in Primo Brands Co. (NYSE:PRMB)

Fulton Bank N.A. acquired a new position in shares of Primo Brands Co. (NYSE:PRMBFree Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,733 shares of the company’s stock, valued at approximately $669,000.

Separately, Rise Advisors LLC acquired a new position in shares of Primo Brands during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Stock Down 2.7 %

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

Primo Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors 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 yield of 1.17%. The ex-dividend date was Friday, November 22nd. Primo Brands’s payout ratio is currently 22.36%.

Wall Street Analysts Forecast Growth

PRMB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Primo Brands in a research note on Monday, November 18th. They set a “buy” rating and a $33.00 target price on the stock. BMO Capital Markets assumed coverage on shares of Primo Brands in a report on Monday. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on shares of Primo Brands from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday.

Check Out Our Latest Report on Primo Brands

Primo Brands Company Profile

(Free Report)

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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