Assenagon Asset Management S.A. Takes Position in Primo Water Co. (NYSE:PRMW)

Assenagon Asset Management S.A. purchased a new position in shares of Primo Water Co. (NYSE:PRMW) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,313 shares of the company’s stock, valued at approximately $437,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PRMW. Triasima Portfolio Management inc. bought a new position in shares of Primo Water during the 2nd quarter valued at approximately $12,732,000. Acadian Asset Management LLC raised its stake in shares of Primo Water by 559.2% in the second quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock valued at $11,947,000 after buying an additional 464,232 shares during the period. Jane Street Group LLC lifted its position in shares of Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after buying an additional 390,611 shares during the last quarter. Intact Investment Management Inc. grew its stake in shares of Primo Water by 63.9% during the 2nd quarter. Intact Investment Management Inc. now owns 961,870 shares of the company’s stock worth $21,020,000 after acquiring an additional 374,870 shares during the period. Finally, Forge First Asset Management Inc. purchased a new stake in Primo Water in the 1st quarter worth about $6,792,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Stock Up 1.1 %

Shares of NYSE:PRMW opened at $26.53 on Monday. The firm has a fifty day moving average price of $25.01 and a two-hundred day moving average price of $22.64. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water Co. has a one year low of $13.57 and a one year high of $28.06.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Primo Water Co. will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently announced a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.82 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water’s dividend payout ratio is currently 22.78%.

Analyst Ratings Changes

Several research firms have commented on PRMW. William Blair assumed coverage on shares of Primo Water in a report on Thursday, October 24th. They set an “outperform” rating on the stock. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Finally, StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water 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.