Primo Water (NYSE:PRMW) Hits New 52-Week High at $20.17

Primo Water Co. (NYSE:PRMW) shares hit a new 52-week high during trading on Monday . The company traded as high as $20.17 and last traded at $20.14, with a volume of 157107 shares changing hands. The stock had previously closed at $19.89.

Wall Street Analyst Weigh In

PRMW has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective on the stock. in a research report on Wednesday, April 3rd. TD Securities lowered their target price on Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. One investment 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 company currently has an average rating of “Moderate Buy” and an average price target of $21.25.

Primo Water Stock Performance

The stock has a market cap of $3.24 billion, a PE ratio of 13.51, a P/E/G ratio of 1.87 and a beta of 1.09. The company has a fifty day moving average price of $17.85 and a 200 day moving average price of $15.80. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (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 for the quarter, compared to analysts’ expectations of $582.93 million. Analysts expect that Primo Water Co. will post 0.82 earnings per share for the current year.

Primo Water Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a $0.09 dividend. 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. This represents a $0.36 dividend on an annualized basis and a yield of 1.79%. Primo Water’s dividend payout ratio is currently 24.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares in the last quarter. Tobam boosted its position in Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company’s stock valued at $306,000 after buying an additional 705 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of Primo Water by 6.2% during the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock worth $354,000 after purchasing an additional 1,368 shares during the last quarter. Lazard Asset Management LLC grew its position in Primo Water by 6.0% during the 3rd quarter. Lazard Asset Management LLC now owns 28,606 shares of the company’s stock worth $394,000 after purchasing an additional 1,612 shares during the period. Finally, Diversified Trust Co lifted its holdings in Primo Water by 4.6% in the fourth quarter. Diversified Trust Co now owns 36,819 shares of the company’s stock valued at $554,000 after acquiring an additional 1,631 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.