King Luther Capital Management Corp Increases Stock Holdings in Primo Water Co. (NYSE:PRMW)

King Luther Capital Management Corp boosted its position in Primo Water Co. (NYSE:PRMW) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,184 shares of the company’s stock after purchasing an additional 13,726 shares during the quarter. King Luther Capital Management Corp owned approximately 0.15% of Primo Water worth $5,382,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PRMW. Cedar Wealth Management LLC bought a new position in Primo Water in the first quarter worth $27,000. CWM LLC increased its holdings in shares of Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares in the last quarter. Crewe Advisors LLC bought a new position in Primo Water during the first quarter valued at approximately $66,000. Clearstead Trust LLC bought a new position in Primo Water during the second quarter valued at approximately $109,000. Finally, Daiwa Securities Group Inc. bought a new position in Primo Water during the second quarter valued at approximately $151,000. Institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

PRMW has been the topic of a number of research analyst reports. TD Securities increased their price objective on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, June 18th. CIBC increased their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th. Finally, StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Primo Water currently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Down 0.2 %

PRMW opened at $25.25 on Friday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 1-year low of $12.92 and a 1-year high of $25.60. The company has a market capitalization of $4.06 billion, a PE ratio of 15.68, a PEG ratio of 1.73 and a beta of 1.10. The firm’s 50 day simple moving average is $22.24 and its two-hundred day simple moving average is $20.80.

Primo Water (NYSE:PRMW) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. As a group, equities analysts forecast that Primo Water Co. will post 0.87 EPS for the current year.

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.43%. Primo Water’s payout ratio is 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.