Primo Water (NYSE:PRMW) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Primo Water (NYSE:PRMW) in a research report sent to investors on Sunday. The firm issued a buy rating on the stock.

Other research analysts have also issued reports about the company. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. Finally, William Blair initiated coverage on shares of Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Stock Down 0.9 %

Shares of PRMW stock opened at $24.21 on Friday. Primo Water has a 1 year low of $14.06 and a 1 year high of $28.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The business’s fifty day moving average is $25.38 and its 200-day moving average is $23.39. The stock has a market cap of $3.88 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Primo Water Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date was Tuesday, November 5th. Primo Water’s dividend payout ratio is presently 22.36%.

Hedge Funds Weigh In On Primo Water

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its stake in Primo Water by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 18,778 shares of the company’s stock worth $474,000 after acquiring an additional 424 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares during the period. CWM LLC grew its position in Primo Water by 31.5% during the third quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares in the last quarter. Natixis Advisors LLC lifted its position in Primo Water by 3.6% in the 3rd quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock worth $616,000 after buying an additional 852 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after buying an additional 981 shares in the last quarter. Institutional investors and hedge funds 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.