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

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

Analyst Ratings Changes

Several research firms have recently issued reports on PRMW. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price on the stock. in a report on Wednesday, April 3rd. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. raised their price objective on Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, TD Securities reduced their price objective on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.75.

Primo Water Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The stock has a market capitalization of $3.05 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.77 and a beta of 1.12. The firm has a 50-day simple moving average of $17.38 and a 200 day simple moving average of $15.53.

Primo Water (NYSE:PRMW) last posted its 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). The firm had revenue of $438.70 million during the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. On average, equities research analysts forecast that Primo Water Co. will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio (DPR) is 24.16%.

Hedge Funds Weigh In On Primo Water

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its stake in Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the period. Natixis Advisors L.P. raised its stake in shares of Primo Water by 6.2% in the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock valued at $354,000 after buying an additional 1,368 shares during the period. Lazard Asset Management LLC raised its stake in shares of Primo Water by 6.0% in the third quarter. Lazard Asset Management LLC now owns 28,606 shares of the company’s stock valued at $394,000 after buying an additional 1,612 shares during the period. Diversified Trust Co raised its stake in shares of Primo Water by 4.6% during the 4th quarter. Diversified Trust Co now owns 36,819 shares of the company’s stock valued at $554,000 after purchasing an additional 1,631 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Primo Water by 0.7% during the 3rd quarter. Mackenzie Financial Corp now owns 261,154 shares of the company’s stock valued at $3,503,000 after purchasing an additional 1,819 shares during the period. 87.71% of the stock is currently owned by institutional investors.

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.