Massachusetts Financial Services Co. MA Grows Stock Holdings in Primo Water Co. (NYSE:PRMW)

Massachusetts Financial Services Co. MA lifted its position in Primo Water Co. (NYSE:PRMW) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 179,359 shares of the company’s stock after buying an additional 16,494 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.11% of Primo Water worth $3,921,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PRMW. Norges Bank purchased a new stake in Primo Water during the fourth quarter worth about $18,559,000. Goldman Sachs Group Inc. lifted its holdings in Primo Water by 32.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock worth $57,945,000 after buying an additional 937,235 shares in the last quarter. Triasima Portfolio Management inc. purchased a new position in Primo Water in the 2nd quarter valued at approximately $12,732,000. Acadian Asset Management LLC grew its stake in shares of Primo Water by 559.2% in the second quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after acquiring an additional 464,232 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Primo Water by 170.4% during the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after acquiring an additional 390,611 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, June 18th. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Securities lifted their price objective on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, CIBC lifted their price target on Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Performance

Shares of PRMW stock opened at $25.28 on Friday. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $25.60. 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 firm has a market cap of $4.06 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.73 and a beta of 1.10. The stock’s 50-day moving average is $22.24 and its two-hundred day moving average is $20.80.

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

Primo Water Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders 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 dividend on an annualized basis and a yield of 1.42%. Primo Water’s payout ratio is 22.36%.

Primo Water 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.