Envestnet Asset Management Inc. Has $1.68 Million Position in Primo Water Co. (NYSE:PRMW)

Envestnet Asset Management Inc. raised its stake in shares of Primo Water Co. (NYSE:PRMWGet Rating) by 194.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,761 shares of the company’s stock after buying an additional 83,101 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Primo Water worth $1,683,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Comerica Bank lifted its stake in shares of Primo Water by 22.9% in the 1st quarter. Comerica Bank now owns 46,135 shares of the company’s stock valued at $683,000 after purchasing an additional 8,600 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Primo Water by 37.2% in the 1st quarter. Russell Investments Group Ltd. now owns 812,031 shares of the company’s stock worth $11,571,000 after acquiring an additional 220,332 shares during the period. New York State Common Retirement Fund raised its holdings in Primo Water by 1.2% in the 1st quarter. New York State Common Retirement Fund now owns 566,465 shares of the company’s stock worth $8,072,000 after acquiring an additional 6,852 shares during the period. Aigen Investment Management LP bought a new position in Primo Water in the 1st quarter worth $288,000. Finally, CIBC Asset Management Inc raised its holdings in Primo Water by 2.8% in the 1st quarter. CIBC Asset Management Inc now owns 144,464 shares of the company’s stock worth $2,059,000 after acquiring an additional 3,991 shares during the period. Institutional investors and hedge funds own 86.91% of the company’s stock.

Wall Street Analyst Weigh In

PRMW has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Primo Water in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Primo Water from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, November 8th. Finally, TD Securities boosted their price objective on shares of Primo Water from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.00.

Primo Water Stock Performance

NYSE:PRMW opened at $14.77 on Friday. The firm’s 50-day moving average is $13.84 and its 200-day moving average is $13.48. Primo Water Co. has a 52-week low of $12.15 and a 52-week high of $18.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.78. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -164.09 and a beta of 1.11.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 29th will be paid a $0.07 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.90%. Primo Water’s payout ratio is currently -311.08%.

Primo Water Company Profile

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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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Nursery, Sierra Springs, Sparkletts, Clear Mountain Natural Spring Water, Earth2O, Renü, and Water Event Pure Water Solutions brands in the United States; Canadian Springs and Labrador Source brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.

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Institutional Ownership by Quarter for Primo Water (NYSE:PRMW)

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