Allspring Global Investments Holdings LLC Has $67.44 Million Holdings in Primo Water Co. (NYSE:PRMW)

Allspring Global Investments Holdings LLC raised its position in Primo Water Co. (NYSE:PRMW) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,703,385 shares of the company’s stock after buying an additional 100,702 shares during the period. Allspring Global Investments Holdings LLC owned 2.30% of Primo Water worth $67,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its position 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 in the last quarter. Natixis Advisors L.P. boosted its position in Primo Water by 6.2% in the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock valued at $354,000 after buying an additional 1,368 shares in the last quarter. Lazard Asset Management LLC boosted its position in Primo Water by 6.0% in the third quarter. Lazard Asset Management LLC now owns 28,606 shares of the company’s stock valued at $394,000 after buying an additional 1,612 shares in the last quarter. Diversified Trust Co boosted its position 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 buying an additional 1,631 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of 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 during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Trading Down 0.8 %

PRMW opened at $21.06 on Wednesday. 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 company has a market cap of $3.39 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.59 and a beta of 1.10. The firm has a 50 day simple moving average of $21.53 and a 200 day simple moving average of $18.01. Primo Water Co. has a fifty-two week low of $12.27 and a fifty-two week high of $25.60.

Primo Water (NYSE:PRMW) last posted its quarterly 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. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. On average, sell-side analysts anticipate that Primo Water Co. will post 0.89 earnings per share for the current year.

Primo Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, June 7th. Primo Water’s payout ratio is presently 22.36%.

Analyst Upgrades and Downgrades

PRMW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Primo Water from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research note on Tuesday, June 18th. Raymond James downgraded shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Finally, StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. One research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.