Primo Water Co. (NYSE:PRMW) Position Raised by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Primo Water Co. (NYSE:PRMW) by 16.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,695 shares of the company’s stock after acquiring an additional 2,500 shares during the quarter. American Century Companies Inc.’s holdings in Primo Water were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in shares of Primo Water by 2.9% in the fourth quarter. CIBC Asset Management Inc now owns 157,462 shares of the company’s stock worth $2,380,000 after buying an additional 4,411 shares during the period. Gabelli Funds LLC lifted its stake in shares of Primo Water by 7.7% in the fourth quarter. Gabelli Funds LLC now owns 140,000 shares of the company’s stock worth $2,107,000 after buying an additional 10,000 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Primo Water during the 4th quarter worth $310,000. Goldman Sachs Group Inc. boosted its stake 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 valued at $57,945,000 after purchasing an additional 937,235 shares during the period. Finally, Wellington Management Group LLP increased its position in Primo Water by 13.0% in the 4th quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock worth $40,844,000 after buying an additional 312,815 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. CIBC upped their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. TD Securities upped 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. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research note on Tuesday. Finally, Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Up 0.9 %

PRMW stock opened at $24.98 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water Co. has a fifty-two week low of $12.92 and a fifty-two week high of $25.67. The stock has a market capitalization of $4.02 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.87 and a beta of 1.10. The business has a 50-day moving average of $22.99 and a 200-day moving average of $21.31.

Primo Water (NYSE:PRMW) last issued its earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $485.00 million during 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%. Primo Water’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, sell-side analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current fiscal year.

Primo Water Announces Dividend

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

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.