Raymond James & Associates Boosts Position in Primo Water Co. (NYSE:PRMW)

Raymond James & Associates increased its holdings in shares of Primo Water Co. (NYSE:PRMWFree Report) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 951,970 shares of the company’s stock after purchasing an additional 145,966 shares during the quarter. Raymond James & Associates owned approximately 0.59% of Primo Water worth $14,327,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Primo Water by 19.2% during the fourth quarter. SG Americas Securities LLC now owns 72,625 shares of the company’s stock worth $1,093,000 after buying an additional 11,689 shares during the period. Raymond James Trust N.A. increased its position in Primo Water by 32.5% during the fourth quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock worth $231,000 after buying an additional 3,759 shares during the period. First Hawaiian Bank acquired a new position in Primo Water during the fourth quarter worth approximately $233,000. Diversified Trust Co increased its position in Primo Water by 4.6% during the fourth quarter. Diversified Trust Co now owns 36,819 shares of the company’s stock worth $554,000 after buying an additional 1,631 shares during the period. Finally, Green Alpha Advisors LLC increased its position in Primo Water by 13.4% during the fourth quarter. Green Alpha Advisors LLC now owns 33,490 shares of the company’s stock worth $504,000 after buying an additional 3,948 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PRMW shares. JPMorgan Chase & Co. lifted their price target on Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. StockNews.com lowered Primo Water from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 18th. Finally, TD Securities dropped their target price on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.67.

Get Our Latest Report on Primo Water

Primo Water Stock Performance

Shares of PRMW stock opened at $18.22 on Wednesday. The business’s fifty day moving average price is $16.18 and its 200 day moving average price is $15.01. Primo Water Co. has a 1-year low of $12.27 and a 1-year high of $18.49. The firm has a market capitalization of $2.93 billion, a PE ratio of 12.22, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92.

Primo Water (NYSE:PRMWGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Primo Water had a return on equity of 8.55% and a net margin of 10.82%. The business had revenue of $438.70 million for the quarter, compared to analyst estimates of $582.93 million. As a group, sell-side analysts forecast that Primo Water Co. will post 0.82 EPS for the current fiscal year.

Primo Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s dividend payout ratio is currently 24.16%.

About Primo Water

(Free Report)

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.

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

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