Wellington Management Group LLP Has $40.84 Million Stake in Primo Water Co. (NYSE:PRMW)

Wellington Management Group LLP increased its stake in shares of Primo Water Co. (NYSE:PRMW) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,713,866 shares of the company’s stock after purchasing an additional 312,815 shares during the quarter. Wellington Management Group LLP owned approximately 1.69% of Primo Water worth $40,844,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. increased its position in Primo Water by 6.2% in the 4th 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 raised its position in Primo Water by 6.0% during the third quarter. Lazard Asset Management LLC now owns 28,606 shares of the company’s stock valued at $394,000 after acquiring an additional 1,612 shares in the last quarter. Diversified Trust Co lifted its stake 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 last quarter. Signaturefd LLC grew its position in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after acquiring an additional 1,848 shares in the last quarter. Finally, Fulton Bank N.A. increased its stake in shares of Primo Water by 10.2% during the 4th quarter. Fulton Bank N.A. now owns 20,290 shares of the company’s stock worth $305,000 after purchasing an additional 1,870 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PRMW shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Primo Water from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a report on Tuesday, June 18th. TD Securities upped their target price on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. Finally, StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Performance

NYSE PRMW opened at $22.15 on Monday. The company’s fifty day moving average is $21.02 and its two-hundred day moving average is $17.66. Primo Water Co. has a 52-week low of $12.27 and a 52-week high of $25.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.60 and a beta of 1.09.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The business had revenue of $452.00 million for the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. Equities research analysts forecast that Primo Water Co. will post 0.89 EPS for the current year.

Primo Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, June 7th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.36 annualized dividend and a yield of 1.63%. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

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.