Strategic Wealth Partners Ltd. Purchases 3,093 Shares of Primo Water Co. (NYSE:PRMW)

Strategic Wealth Partners Ltd. lifted its position in Primo Water Co. (NYSE:PRMW) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,958 shares of the company’s stock after purchasing an additional 3,093 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Primo Water were worth $1,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Primo Water by 375.9% during the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares during the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of Primo Water during the 1st quarter valued at $27,000. CWM LLC lifted its holdings in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after acquiring an additional 631 shares during the last quarter. Crewe Advisors LLC purchased a new position in Primo Water in the first quarter worth $66,000. Finally, Clearstead Trust LLC bought a new position in Primo Water in the second quarter valued at $109,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRMW. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a report on Monday. CIBC increased their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. Finally, TD Securities lifted their target price on shares of Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Primo Water currently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Up 0.8 %

Shares of NYSE PRMW opened at $25.43 on Wednesday. The firm’s fifty day moving average is $23.22 and its 200 day moving average is $21.51. Primo Water Co. has a 52 week low of $12.92 and a 52 week high of $25.67. 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 $4.09 billion, a price-to-earnings ratio of 15.80, 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, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. On average, equities research analysts expect that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, August 22nd. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

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.