Blue Trust Inc. Boosts Stake in Primo Water Co. (NYSE:PRMW)

Blue Trust Inc. grew its stake in shares of Primo Water Co. (NYSE:PRMW) by 52.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,871 shares of the company’s stock after buying an additional 641 shares during the period. Blue Trust Inc.’s holdings in Primo Water were worth $47,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PRMW. Cedar Wealth Management LLC purchased a new stake in shares of Primo Water during the 1st quarter valued at $27,000. GAMMA Investing LLC grew its holdings in shares of Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Primo Water during the 3rd quarter valued at $48,000. Crewe Advisors LLC bought a new position in shares of Primo Water during the 1st quarter valued at $66,000. Finally, CWM LLC grew its holdings in shares of Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Price Performance

Shares of Primo Water stock opened at $26.54 on Friday. The firm has a market cap of $4.25 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. Primo Water Co. has a 12-month low of $13.57 and a 12-month high of $28.06. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $25.01 and its two-hundred day simple moving average is $22.57.

Primo Water (NYSE:PRMW) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Primo Water’s revenue was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio (DPR) is 22.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on PRMW. William Blair began coverage on shares of Primo Water in a report on Thursday, October 24th. They set an “outperform” rating 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 lowered shares of Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Primo Water presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.