Credit Suisse AG increased its holdings in shares of Primo Water Co. (NYSE:PRMW – Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,083 shares of the company’s stock after buying an additional 3,664 shares during the period. Credit Suisse AG owned about 0.09% of Primo Water worth $2,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its position in shares of Primo Water by 66.7% in the first quarter. MetLife Investment Management LLC now owns 84,056 shares of the company’s stock valued at $1,198,000 after purchasing an additional 33,637 shares during the period. BlackRock Inc. increased its stake in Primo Water by 0.6% during the 1st quarter. BlackRock Inc. now owns 7,991,282 shares of the company’s stock worth $113,877,000 after buying an additional 48,820 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Primo Water by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 978,452 shares of the company’s stock valued at $13,943,000 after acquiring an additional 39,817 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Primo Water by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,471,388 shares of the company’s stock valued at $149,217,000 after acquiring an additional 280,207 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Primo Water by 374.8% in the first quarter. Mackenzie Financial Corp now owns 293,554 shares of the company’s stock worth $4,186,000 after acquiring an additional 231,727 shares during the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
Primo Water Trading Down 0.4 %
Shares of PRMW stock opened at $15.20 on Monday. Primo Water Co. has a twelve month low of $12.27 and a twelve month high of $16.47. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.14 and a beta of 1.04. The company’s 50-day moving average price is $14.14 and its 200-day moving average price is $14.13. The company has a current ratio of 0.78, a quick ratio of 0.62 and a debt-to-equity ratio of 1.02.
Primo Water Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, August 23rd. Primo Water’s dividend payout ratio (DPR) is 59.26%.
Wall Street Analyst Weigh In
PRMW has been the topic of a number of research reports. TD Securities raised their price objective on Primo Water from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 11th. JPMorgan Chase & Co. raised their price target on shares of Primo Water from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. Finally, StockNews.com cut shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.33.
About Primo Water
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, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.
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