Vanguard Group Inc. Has $164.37 Million Stake in Primo Water Co. (NYSE:PRMW)

Vanguard Group Inc. lifted its holdings in shares of Primo Water Co. (NYSE:PRMW - Free Report) by 4.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,910,887 shares of the company's stock after purchasing an additional 508,251 shares during the period. Vanguard Group Inc. owned 7.41% of Primo Water worth $164,370,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PRMW. Ancora Advisors LLC acquired a new position in Primo Water in the first quarter valued at $36,000. PNC Financial Services Group Inc. lifted its holdings in Primo Water by 26.1% in the second quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company's stock valued at $52,000 after buying an additional 853 shares during the period. Point72 Middle East FZE acquired a new position in shares of Primo Water during the fourth quarter valued at about $54,000. Advisor Group Holdings Inc. raised its holdings in shares of Primo Water by 209.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company's stock valued at $90,000 after purchasing an additional 3,945 shares during the period. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Primo Water during the third quarter valued at about $102,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Primo Water Price Performance

Shares of Primo Water stock remained flat at $18.22 on Tuesday. 923,845 shares of the stock were exchanged, compared to its average volume of 1,033,566. Primo Water Co. has a 1 year low of $12.27 and a 1 year high of $18.49. The business has a 50 day moving average of $16.18 and a 200 day moving average of $15.01. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW - Get Free Report) last released 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 net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. As a group, analysts anticipate that Primo Water Co. will post 0.82 earnings per share for the current year.

Primo Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Primo Water's previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.98%. Primo Water's dividend payout ratio (DPR) is 24.16%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. TD Securities lowered their target price on shares of Primo Water from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, January 11th. JPMorgan Chase & Co. upped their target price on shares of Primo Water from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. TheStreet upgraded shares of Primo Water from a "c+" rating to a "b-" rating in a research note on Monday, December 4th. Finally, StockNews.com lowered shares of Primo Water from a "strong-buy" rating to a "buy" rating in a research note on Sunday, February 18th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.67.

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.