Credit Suisse AG Grows Stock Holdings in Primo Water Co. (NYSE:PRMW)

Credit Suisse AG lifted its position in shares of Primo Water Co. (NYSE:PRMW – Get Rating) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,576 shares of the company’s stock after acquiring an additional 4,660 shares during the period. Credit Suisse AG owned approximately 0.09% of Primo Water worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Primo Water by 9.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,581,085 shares of the company’s stock worth $165,030,000 after purchasing an additional 1,031,066 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Primo Water by 85.3% during the first quarter. Renaissance Technologies LLC now owns 1,678,042 shares of the company’s stock valued at $23,913,000 after purchasing an additional 772,300 shares during the period. EVR Research LP grew its holdings in Primo Water by 267.5% during the first quarter. EVR Research LP now owns 735,000 shares of the company’s stock valued at $10,474,000 after purchasing an additional 535,000 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Primo Water during the third quarter valued at about $6,521,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Primo Water during the first quarter valued at about $6,779,000. Institutional investors own 88.68% of the company’s stock.

Insider Activity at Primo Water

In other Primo Water news, Director Jeremy S. G. Fowden sold 47,630 shares of the business’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $16.01, for a total value of $762,556.30. Following the completion of the transaction, the director now owns 1,268,770 shares in the company, valued at $20,313,007.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeremy S. G. Fowden sold 47,630 shares of the stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $16.01, for a total transaction of $762,556.30. Following the completion of the transaction, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,313,007.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy S. G. Fowden sold 3,760 shares of the stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $16.00, for a total transaction of $60,160.00. Following the completion of the transaction, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,300,320. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,853 shares of company stock worth $2,280,980. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRMW. CIBC cut Primo Water from a “sector outperform” rating to a “neutral” rating in a report on Friday, February 24th. TD Securities boosted their price target on Primo Water from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, November 11th. TheStreet upgraded Primo Water from a “c” rating to a “b-” rating in a report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Primo Water from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 8th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Primo Water Stock Down 0.1 %

PRMW stock opened at $15.35 on Tuesday. The firm has a 50-day moving average of $15.61 and a two-hundred day moving average of $14.65. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 80.79 and a beta of 1.05. The company has a current ratio of 0.76, a quick ratio of 0.60 and a debt-to-equity ratio of 0.98. Primo Water Co. has a 12 month low of $12.15 and a 12 month high of $16.47.

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 10th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, March 9th. This is an increase from Primo Water’s previous quarterly dividend of $0.07. Primo Water’s dividend payout ratio (DPR) is 168.42%.

Primo Water 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.