Vanguard Group Inc. Acquires 248,774 Shares of Primo Water Co. (NYSE:PRMW)

Vanguard Group Inc. raised its holdings in shares of Primo Water Co. (NYSE:PRMW) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,159,661 shares of the company’s stock after purchasing an additional 248,774 shares during the period. Vanguard Group Inc. owned 7.56% of Primo Water worth $183,003,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC increased its position in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after buying an additional 1,848 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Primo Water by 32.5% during the 4th quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock worth $231,000 after acquiring an additional 3,759 shares during the period. First Hawaiian Bank bought a new position in shares of Primo Water in the 4th quarter worth approximately $233,000. Aigen Investment Management LP lifted its stake in shares of Primo Water by 89.8% in the 4th quarter. Aigen Investment Management LP now owns 19,047 shares of the company’s stock valued at $287,000 after purchasing an additional 9,010 shares during the period. Finally, Fulton Bank N.A. boosted its position in shares of Primo Water by 10.2% during the fourth quarter. Fulton Bank N.A. now owns 20,290 shares of the company’s stock valued at $305,000 after purchasing an additional 1,870 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 10th. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a report on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Down 0.3 %

PRMW stock opened at $21.00 on Thursday. The stock has a market capitalization of $3.38 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. Primo Water Co. has a 1-year low of $12.27 and a 1-year high of $25.60. The business has a fifty day moving average price of $21.57 and a 200-day moving average price of $18.04.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. The business had revenue of $452.00 million for the quarter, compared to analysts’ expectations of $438.81 million. Equities analysts forecast that Primo Water Co. will post 0.89 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th were paid a $0.09 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.71%. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

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.