Primo Water (NYSE:PRMW) Hits New 1-Year High at $19.01

Primo Water Co. (NYSE:PRMW)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $19.01 and last traded at $19.00, with a volume of 39302 shares trading hands. The stock had previously closed at $18.85.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a report on Saturday. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective on the stock. in a report on Wednesday, April 3rd. Finally, TD Securities cut their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

Primo Water Price Performance

The company’s fifty day moving average is $17.38 and its 200 day moving average is $15.53. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.05 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12.

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

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.09 dividend. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. This represents a $0.36 annualized dividend and a yield of 1.90%. Primo Water’s dividend payout ratio (DPR) is presently 24.16%.

Institutional Trading of Primo Water

Large investors have recently bought and sold shares of the company. Raymond James & Associates grew its position in Primo Water by 18.1% in the fourth quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock valued at $14,327,000 after acquiring an additional 145,966 shares in the last quarter. Ancora Advisors LLC grew its position in Primo Water by 2.0% in the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock valued at $8,442,000 after acquiring an additional 11,920 shares in the last quarter. Walleye Capital LLC grew its position in Primo Water by 761.6% in the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock valued at $1,532,000 after acquiring an additional 98,144 shares in the last quarter. William Blair Investment Management LLC grew its position in Primo Water by 10.8% in the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after acquiring an additional 265,057 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Primo Water by 49.3% during the third quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock worth $4,310,000 after buying an additional 103,103 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.