Skandinaviska Enskilda Banken AB publ Invests $649,000 in Primo Water Co. (NYSE:PRMW)

Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Primo Water Co. (NYSE:PRMW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 29,700 shares of the company’s stock, valued at approximately $649,000.

Several other large investors have also modified their holdings of PRMW. Norges Bank bought a new stake in shares of Primo Water during the 4th quarter worth $18,559,000. Goldman Sachs Group Inc. boosted its stake in shares of 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 acquiring an additional 937,235 shares in the last quarter. Triasima Portfolio Management inc. bought a new stake in shares of Primo Water during the 2nd quarter worth $12,732,000. Acadian Asset Management LLC boosted its stake in shares of Primo Water by 559.2% during the 2nd 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 boosted its stake in shares of Primo Water by 170.4% during the 1st 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 in the last quarter. 87.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PRMW shares. JPMorgan Chase & Co. raised their price objective on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. TD Securities raised 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. CIBC raised their target price on Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. Finally, StockNews.com cut Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Price Performance

PRMW opened at $25.41 on Tuesday. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.73 and a beta of 1.10. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $25.60. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The stock has a fifty day moving average price of $22.24 and a 200 day moving average price of $20.86.

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

Primo Water Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.42%. Primo Water’s dividend payout ratio is currently 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.