Financial Advocates Investment Management Makes New $287,000 Investment in Primo Brands Co. (NYSE:PRMB)

Financial Advocates Investment Management bought a new position in shares of Primo Brands Co. (NYSE:PRMB) during the fourth quarter, HoldingsChannel.com reports. The firm bought 9,325 shares of the company’s stock, valued at approximately $287,000.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Primo Brands in the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in Primo Brands in the fourth quarter valued at approximately $42,000. Nisa Investment Advisors LLC acquired a new position in Primo Brands during the fourth quarter valued at approximately $176,000. Drive Wealth Management LLC bought a new stake in Primo Brands during the fourth quarter worth $241,000. Finally, Choreo LLC acquired a new stake in shares of Primo Brands in the 4th quarter valued at $275,000. 87.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRMB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Primo Brands in a research note on Monday, November 18th. They set a “buy” rating and a $33.00 target price for the company. TD Securities increased their price objective on shares of Primo Brands from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets assumed coverage on shares of Primo Brands in a research report on Monday, January 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on shares of 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

PRMB opened at $33.47 on Monday. The stock’s 50 day simple moving average is $31.54. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 0.83 and a beta of 1.10. Primo Brands Co. has a fifty-two week low of $14.10 and a fifty-two week high of $34.14. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86.

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.