Raymond James Trust N.A. Buys 424 Shares of Primo Water Co. (NYSE:PRMW)

Raymond James Trust N.A. raised its stake in Primo Water Co. (NYSE:PRMW) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,778 shares of the company’s stock after buying an additional 424 shares during the period. Raymond James Trust N.A.’s holdings in Primo Water were worth $474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of Primo Water by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 189,478 shares of the company’s stock worth $4,784,000 after buying an additional 10,119 shares during the period. Intech Investment Management LLC acquired a new stake in Primo Water during the 3rd quarter worth about $1,073,000. King Luther Capital Management Corp raised its position in shares of Primo Water by 2.7% in the 3rd quarter. King Luther Capital Management Corp now owns 252,768 shares of the company’s stock worth $6,382,000 after acquiring an additional 6,584 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Primo Water by 4.3% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 133,132 shares of the company’s stock valued at $3,362,000 after purchasing an additional 5,432 shares during the period. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of Primo Water during the 3rd quarter valued at about $6,172,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Stock Performance

PRMW opened at $24.21 on Wednesday. Primo Water Co. has a 1-year low of $14.06 and a 1-year high of $28.06. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The company’s fifty day moving average price is $25.53 and its two-hundred day moving average price is $23.25. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.

Primo Water Dividend Announcement

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.82 dividend. The ex-dividend date was Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s payout ratio is 22.36%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. William Blair initiated coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com began coverage on shares of Primo Water in a research note on Tuesday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water 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.