Raymond James & Associates raised its position in Primo Water Co. (NYSE:PRMW - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 951,970 shares of the company's stock after purchasing an additional 145,966 shares during the period. Raymond James & Associates owned 0.59% of Primo Water worth $14,327,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Primo Water by 19.2% in the 4th quarter. SG Americas Securities LLC now owns 72,625 shares of the company's stock valued at $1,093,000 after purchasing an additional 11,689 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Primo Water by 32.5% in the 4th quarter. Raymond James Trust N.A. now owns 15,332 shares of the company's stock valued at $231,000 after buying an additional 3,759 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Primo Water in the 4th quarter valued at $233,000. Diversified Trust Co grew its position in shares of Primo Water by 4.6% in the 4th quarter. Diversified Trust Co now owns 36,819 shares of the company's stock valued at $554,000 after buying an additional 1,631 shares during the last quarter. Finally, Green Alpha Advisors LLC grew its position in shares of Primo Water by 13.4% in the 4th quarter. Green Alpha Advisors LLC now owns 33,490 shares of the company's stock valued at $504,000 after buying an additional 3,948 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.
Primo Water Stock Performance
Shares of PRMW stock traded down $0.16 during mid-day trading on Wednesday, hitting $18.05. The stock had a trading volume of 1,286,609 shares, compared to its average volume of 1,037,519. Primo Water Co. has a fifty-two week low of $12.27 and a fifty-two week high of $18.49. The firm has a market cap of $2.90 billion, a PE ratio of 12.11, a PEG ratio of 1.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The company's 50-day simple moving average is $16.18 and its 200-day simple moving average is $15.01.
Primo Water (NYSE:PRMW - Get Free Report) last released its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $582.93 million. Sell-side analysts anticipate that Primo Water Co. will post 0.82 earnings per share for the current 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 paid a $0.09 dividend. This is a boost from Primo Water's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.99%. Primo Water's dividend payout ratio (DPR) is 24.16%.
Wall Street Analyst Weigh In
PRMW has been the topic of a number of recent analyst reports. Raymond James downgraded shares of Primo Water from a "strong-buy" rating to an "outperform" rating and set a $21.00 target price on the stock. in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Primo Water from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Primo Water from a "strong-buy" rating to a "buy" rating in a research report on Sunday, February 18th. Finally, TD Securities decreased their price target on shares of Primo Water from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Water presently has a consensus rating of "Buy" and a consensus price target of $20.75.
Read Our Latest Stock Analysis on PRMW
Primo Water Profile
(
Free Report)
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.
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