Allspring Global Investments Holdings LLC Purchases 32,875 Shares of Primo Water Co. (NYSE:PRMW)

Allspring Global Investments Holdings LLC boosted its position in shares of Primo Water Co. (NYSE:PRMW) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,827,623 shares of the company’s stock after acquiring an additional 32,875 shares during the period. Allspring Global Investments Holdings LLC owned 2.38% of Primo Water worth $96,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Triasima Portfolio Management inc. purchased a new stake in shares of Primo Water during the second quarter worth about $12,732,000. Acadian Asset Management LLC grew its position in Primo Water by 559.2% during the 2nd quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after purchasing an additional 464,232 shares during the last quarter. Jane Street Group LLC grew its position in Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after purchasing an additional 390,611 shares during the last quarter. Intact Investment Management Inc. increased its stake in Primo Water by 63.9% during the 2nd quarter. Intact Investment Management Inc. now owns 961,870 shares of the company’s stock valued at $21,020,000 after purchasing an additional 374,870 shares in the last quarter. Finally, Forge First Asset Management Inc. purchased a new position in shares of Primo Water in the first quarter worth $6,792,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. StockNews.com cut Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Performance

Shares of PRMW stock opened at $27.67 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 52-week low of $12.92 and a 52-week high of $27.81. The business has a 50-day simple moving average of $23.96 and a 200-day simple moving average of $21.98. The stock has a market cap of $4.45 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $485.00 million for 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%. Primo Water’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. On average, equities analysts expect that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio is presently 22.36%.

Primo Water Company 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.