Principal Financial Group Inc. Acquires 50,468 Shares of Primo Water Co. (NYSE:PRMW)

Principal Financial Group Inc. grew its holdings in Primo Water Co. (NYSE:PRMW) by 311.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,664 shares of the company’s stock after purchasing an additional 50,468 shares during the period. Principal Financial Group Inc.’s holdings in Primo Water were worth $1,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC grew its position in Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after acquiring an additional 981 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Primo Water by 52.1% during the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after purchasing an additional 641 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Primo Water during the 3rd quarter valued at approximately $48,000. CWM LLC increased its position in Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after purchasing an additional 792 shares in the last quarter. Finally, Clearstead Trust LLC bought a new position in Primo Water in the 2nd quarter valued at approximately $109,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Stock Performance

Shares of PRMW stock opened at $24.21 on Friday. The stock has a market capitalization of $3.88 billion, a PE ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The business’s 50 day simple moving average is $25.54 and its 200 day simple moving average is $23.16. 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 one year low of $14.06 and a one year high of $28.06.

Primo Water Dividend Announcement

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date was Tuesday, November 5th. Primo Water’s dividend payout ratio is presently 22.36%.

Wall Street Analyst Weigh In

PRMW has been the subject of several research analyst reports. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. William Blair assumed coverage on Primo Water in a report on Thursday, October 24th. They set an “outperform” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Finally, StockNews.com began coverage on shares of Primo Water in a report on Wednesday. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

About Primo Water

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.