Squarepoint Ops LLC Buys Shares of 63,483 Primo Water Co. (NYSE:PRMW)

Squarepoint Ops LLC purchased a new position in shares of Primo Water Co. (NYSE:PRMW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 63,483 shares of the company’s stock, valued at approximately $1,388,000.

A number of other large investors have also made changes to their positions in PRMW. CWM LLC grew its position in Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares during the period. Tobam boosted its stake in shares of Primo Water by 4.4% during the 1st quarter. Tobam now owns 16,780 shares of the company’s stock worth $306,000 after acquiring an additional 705 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Primo Water by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock worth $781,000 after acquiring an additional 1,307 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Primo Water in the 1st quarter worth approximately $27,000. Finally, Fulton Bank N.A. increased its stake in Primo Water by 9.0% in the 2nd quarter. Fulton Bank N.A. now owns 19,424 shares of the company’s stock valued at $425,000 after purchasing an additional 1,609 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PRMW shares. JPMorgan Chase & Co. boosted their target price on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” 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 report on Monday, September 30th. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday. CIBC increased their target price on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Primo Water has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Price Performance

Shares of Primo Water stock opened at $25.19 on Friday. The business’s fifty day moving average price is $23.07 and its 200 day moving average price is $21.36. Primo Water Co. has a twelve month low of $12.92 and a twelve month high of $25.67. 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 market capitalization of $4.05 billion, a P/E ratio of 15.65, a PEG ratio of 1.87 and a beta of 1.11.

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, 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 analyst estimates of $477.40 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid 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 1.43%. Primo Water’s dividend payout ratio (DPR) is currently 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.