Toronto Dominion Bank Grows Stake in Primo Water Co. (NYSE:PRMW)

Toronto Dominion Bank grew its holdings in Primo Water Co. (NYSE:PRMW) by 23.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 74,466 shares of the company’s stock after buying an additional 14,362 shares during the quarter. Toronto Dominion Bank’s holdings in Primo Water were worth $1,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CWM LLC lifted its stake in shares of Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares during the period. Tobam lifted its stake in shares of Primo Water by 4.4% in the 1st quarter. Tobam now owns 16,780 shares of the company’s stock valued at $306,000 after purchasing an additional 705 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Primo Water by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock valued at $781,000 after purchasing an additional 1,307 shares during the period. Cedar Wealth Management LLC purchased a new position in shares of Primo Water in the 1st quarter valued at approximately $27,000. Finally, Fulton Bank N.A. lifted its stake in shares of Primo Water by 9.0% in the 2nd quarter. Fulton Bank N.A. now owns 19,424 shares of the company’s stock valued at $425,000 after purchasing an additional 1,609 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Stock Up 1.1 %

Primo Water stock opened at $25.25 on Tuesday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.87 and a beta of 1.10. The stock has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $21.21. Primo Water Co. has a 12 month low of $12.92 and a 12 month high of $25.60. 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 (NYSE:PRMW) last posted its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.22 EPS. Equities analysts predict that Primo Water Co. will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s payout ratio is currently 22.36%.

Analyst Ratings Changes

A number of research analysts have recently commented on PRMW shares. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Monday. 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. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday, June 18th. CIBC lifted their price objective on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. Finally, TD Securities lifted 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.