Wealth Enhancement Advisory Services LLC Has $5.93 Million Stock Position in Primo Water Co. (NYSE:PRMW)

Wealth Enhancement Advisory Services LLC reduced its stake in Primo Water Co. (NYSE:PRMW) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 325,536 shares of the company’s stock after selling 1,101 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.20% of Primo Water worth $5,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC lifted its stake in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after buying an additional 1,848 shares during the period. CWM LLC lifted its stake in Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the period. Raymond James Trust N.A. lifted its stake in Primo Water by 32.5% in the fourth quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock valued at $231,000 after buying an additional 3,759 shares during the period. First Hawaiian Bank acquired a new position in Primo Water in the fourth quarter valued at approximately $233,000. Finally, Aigen Investment Management LP lifted its stake in Primo Water by 89.8% in the fourth quarter. Aigen Investment Management LP now owns 19,047 shares of the company’s stock valued at $287,000 after buying an additional 9,010 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on PRMW shares. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, April 3rd. TD Securities boosted their price objective on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. CIBC boosted their price objective on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Primo Water presently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Trading Down 3.2 %

Shares of Primo Water stock opened at $21.17 on Tuesday. Primo Water Co. has a 1 year low of $12.27 and a 1 year high of $25.60. The firm has a market cap of $3.40 billion, a PE ratio of 13.15, a P/E/G ratio of 1.59 and a beta of 1.09. The stock has a fifty day moving average price of $21.48 and a 200-day moving average price of $17.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02.

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

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Friday, June 7th. Primo Water’s dividend payout ratio is presently 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.