Entropy Technologies LP Acquires Shares of 7,665 Primo Brands Co. (NYSE:PRMB)

Entropy Technologies LP bought a new position in Primo Brands Co. (NYSE:PRMB) in the 4th quarter, Holdings Channel.com reports. The firm bought 7,665 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Primo Brands in the 4th quarter valued at approximately $28,000. Fulton Bank N.A. purchased a new position in Primo Brands in the fourth quarter worth $669,000. Green Alpha Advisors LLC acquired a new stake in Primo Brands in the fourth quarter valued at $835,000. Procyon Advisors LLC purchased a new stake in shares of Primo Brands during the 4th quarter worth $553,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Primo Brands during the 4th quarter worth $176,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Brands Trading Up 0.6 %

Shares of PRMB opened at $33.58 on Friday. Primo Brands Co. has a 12-month low of $14.10 and a 12-month high of $34.14. The firm has a market capitalization of $12.74 billion, a PE ratio of 20.86, a P/E/G ratio of 0.83 and a beta of 1.10. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The business’s 50-day simple moving average is $31.78.

Analysts Set New Price Targets

Several brokerages recently commented on PRMB. TD Securities raised 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. 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 report on Monday, January 6th. BMO Capital Markets initiated coverage on Primo Brands in a report on Monday, January 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Primo Brands in a research note on Monday, November 18th. They issued a “buy” rating and a $33.00 price objective for the company.

Primo Brands Profile

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.