Rice Hall James & Associates LLC Buys New Position in Primo Brands Co. (NYSE:PRMB)

Rice Hall James & Associates LLC purchased a new position in shares of Primo Brands Co. (NYSE:PRMB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 142,697 shares of the company’s stock, valued at approximately $4,391,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of Primo Brands during the fourth quarter valued at approximately $28,000. Blue Trust Inc. purchased a new position in shares of Primo Brands during the 4th quarter worth $33,000. R Squared Ltd acquired a new stake in shares of Primo Brands during the fourth quarter worth $42,000. Nisa Investment Advisors LLC acquired a new stake in shares of Primo Brands during the fourth quarter worth $176,000. Finally, Entropy Technologies LP acquired a new position in Primo Brands in the fourth quarter valued at $236,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Brands Stock Performance

Shares of NYSE:PRMB opened at $33.20 on Tuesday. The business’s 50-day moving average price is $31.96. The stock has a market cap of $12.59 billion, a PE ratio of 20.62, a P/E/G ratio of 0.83 and a beta of 1.10. Primo Brands Co. has a 1 year low of $14.10 and a 1 year 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.

Analyst Ratings Changes

A number of analysts have issued reports on PRMB shares. Royal Bank of Canada raised their price target on Primo Brands from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Primo Brands in a research report on Monday, November 18th. They set a “buy” rating and a $33.00 price target for the company. Finally, TD Securities boosted 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.

About Primo Brands

Primo Brands Corp. is a branded beverage company, which focuses on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in the United States and Canada. The company provides water filtration units for home and business consumers across North America.