29,700 Shares in Primo Water Co. (NYSE:PRMW) Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Primo Water Co. (NYSE:PRMW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,700 shares of the company’s stock, valued at approximately $649,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC bought a new position in Primo Water during the first quarter valued at about $27,000. CWM LLC increased its stake in Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares during the period. Crewe Advisors LLC bought a new position in Primo Water during the first quarter valued at about $66,000. Clearstead Trust LLC bought a new position in Primo Water during the second quarter valued at about $109,000. Finally, Daiwa Securities Group Inc. bought a new position in Primo Water during the second quarter valued at about $151,000. 87.71% of the stock is currently owned by institutional investors.

Primo Water Stock Up 0.5 %

Shares of PRMW opened at $25.41 on Tuesday. The company has a market capitalization of $4.09 billion, a P/E ratio of 15.78, a PEG ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water Co. has a one year low of $12.92 and a one year high of $25.60. The business’s 50 day simple moving average is $22.24 and its 200-day simple moving average is $20.86.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. Primo Water’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. As a group, sell-side analysts predict that Primo Water Co. will post 0.87 EPS for the current fiscal year.

Primo Water Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s payout ratio is currently 22.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRMW shares. CIBC boosted their price target on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. TD Securities upped their price objective on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. upped 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. Finally, 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, June 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.