Jennison Associates LLC Takes Position in Primo Water Co. (NYSE:PRMW)

Jennison Associates LLC purchased a new stake in shares of Primo Water Co. (NYSE:PRMW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,821 shares of the company's stock, valued at approximately $644,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Primo Water by 4.5% in the third quarter. Vanguard Group Inc. now owns 11,910,887 shares of the company's stock valued at $164,370,000 after buying an additional 508,251 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Primo Water by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company's stock valued at $101,464,000 after buying an additional 116,453 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Primo Water by 10.8% in the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company's stock valued at $37,444,000 after buying an additional 265,057 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Primo Water in the third quarter valued at approximately $33,135,000. Finally, Raymond James & Associates lifted its position in shares of Primo Water by 18.1% in the fourth quarter. Raymond James & Associates now owns 951,970 shares of the company's stock valued at $14,327,000 after buying an additional 145,966 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRMW has been the subject of several research reports. StockNews.com cut Primo Water from a "buy" rating to a "hold" rating in a report on Saturday. TD Securities dropped their price target on Primo Water from $26.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, January 11th. JPMorgan Chase & Co. lifted their price target on Primo Water from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. Finally, Raymond James cut Primo Water from a "strong-buy" rating to an "outperform" rating and set a $21.00 price target for the company. in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.75.

Primo Water Price Performance

Shares of PRMW traded up $0.10 during midday trading on Friday, hitting $18.95. The company's stock had a trading volume of 525,716 shares, compared to its average volume of 877,157. Primo Water Co. has a one year low of $12.27 and a one year high of $19.01. The company's fifty day simple moving average is $17.38 and its two-hundred day simple moving average is $15.54. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12.

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

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.09 per share. 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 1.90%. Primo Water's payout ratio is presently 24.16%.

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.