Primo Water (NYSE:PRMW) Reaches New 52-Week High at $19.01

Primo Water Co. (NYSE:PRMW) hit 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 traded. The stock had previously closed at $18.85.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a research report on Wednesday, April 3rd. TD Securities dropped their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Finally, StockNews.com downgraded shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Primo Water presently has an average rating of “Buy” and an average price target of $20.75.

Primo Water Stock Up 0.5 %

The firm has a market cap of $3.05 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The stock’s 50 day simple moving average is $17.31 and its 200 day simple moving average is $15.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The company had revenue of $438.70 million for the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a return on equity of 8.55% and a net margin of 10.82%. Research analysts anticipate that Primo Water Co. will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a 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 is presently 24.16%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRMW. Signaturefd LLC boosted its holdings in shares of Primo Water by 358.1% in the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after buying an additional 1,848 shares during the last quarter. CWM LLC increased its stake in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the last quarter. Nomura Asset Management Co. Ltd. purchased a new position in Primo Water in the third quarter valued at approximately $102,000. Aigen Investment Management LP bought a new position in Primo Water during the third quarter valued at $139,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Primo Water in the third quarter valued at $159,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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 essence water, filtration units, and coffee.