Primo Water (NYSE:PRMW) Sees Unusually-High Trading Volume

Primo Water Co. (NYSE:PRMW - Get Free Report) saw strong trading volume on Thursday . 957,443 shares traded hands during trading, a decline of 8% from the previous session's volume of 1,040,857 shares.The stock last traded at $22.77 and had previously closed at $20.11.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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 note on Wednesday, April 3rd. TD Securities lowered their price target on Primo Water from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, January 11th. StockNews.com downgraded Primo Water from a "buy" rating to a "hold" rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Primo Water from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $21.25.

Primo Water Stock Performance

The stock has a 50 day simple moving average of $18.01 and a two-hundred day simple moving average of $15.87. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.87 and a beta of 1.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92.

Primo Water (NYSE:PRMW - Get Free Report) last announced its quarterly 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 net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million during the quarter, compared to analysts' expectations 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 company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Thursday, March 7th. This is an increase from Primo Water's previous quarterly dividend of $0.08. Primo Water's dividend payout ratio (DPR) is currently 24.16%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its stake in Primo Water by 303.5% in the 3rd quarter. Raymond James & Associates now owns 806,004 shares of the company's stock valued at $11,123,000 after purchasing an additional 606,256 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Primo Water by 115.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 261,140 shares of the company's stock valued at $3,604,000 after buying an additional 140,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Primo Water by 16.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,437 shares of the company's stock worth $475,000 after buying an additional 4,754 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Primo Water by 0.7% in the 3rd quarter. Mackenzie Financial Corp now owns 261,154 shares of the company's stock worth $3,503,000 after buying an additional 1,819 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Primo Water by 16.6% in the 3rd quarter. TD Asset Management Inc now owns 628,383 shares of the company's stock valued at $8,719,000 after acquiring an additional 89,308 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Primo Water

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.