Primo Water (NYSE:PRMW) Hits New 12-Month High at $20.17

Shares of Primo Water Co. (NYSE:PRMW - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $20.17 and last traded at $20.14, with a volume of 157107 shares changing hands. The stock had previously closed at $19.89.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Raymond James lowered shares of Primo Water from a "strong-buy" rating to an "outperform" rating and set a $21.00 price objective for the company. in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on Primo Water from $19.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday. TD Securities decreased their price objective on Primo Water from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, January 11th. Finally, StockNews.com downgraded shares of Primo Water from a "buy" rating to a "hold" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.25.

Primo Water Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88. The firm has a 50-day moving average of $17.78 and a 200 day moving average of $15.75. The company has a market cap of $3.20 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09.

Primo Water (NYSE:PRMW - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.10). Primo Water had a return on equity of 8.55% and a net margin of 10.82%. The firm had revenue of $438.70 million for the quarter, compared to analyst estimates of $582.93 million. On average, analysts predict that Primo Water Co. will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.09 per share. This is a boost from Primo Water's previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.81%. Primo Water's dividend payout ratio is 24.16%.

Hedge Funds Weigh In On Primo Water

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC raised its stake in Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company's stock valued at $36,000 after buying an additional 1,848 shares during the last quarter. CWM LLC lifted its position in shares of Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company's stock worth $43,000 after buying an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Primo Water in the third quarter worth about $102,000. Aigen Investment Management LP purchased a new stake in Primo Water during the third quarter valued at approximately $139,000. Finally, Blueshift Asset Management LLC purchased a new stake in Primo Water during the third quarter valued at approximately $159,000. 87.71% of the stock is currently owned by institutional investors.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.