Primo Water (NYSE:PRMW) Reaches New 52-Week High at $25.67

Primo Water Co. (NYSE:PRMW)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $25.67 and last traded at $25.38, with a volume of 117797 shares trading hands. The stock had previously closed at $25.25.

Analyst Upgrades and Downgrades

PRMW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target 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. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research note on Tuesday. TD Securities raised their price objective on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, CIBC raised their price objective on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Primo Water has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Trading Down 1.0 %

The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market cap of $4.02 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.87 and a beta of 1.10. The business has a 50-day moving average price of $22.77 and a two-hundred day moving average price of $21.21.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s payout ratio is 22.36%.

Institutional Investors Weigh In On Primo Water

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

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.