King Luther Capital Management Corp raised its stake in shares of Primo Water Co. (NYSE:PRMW – Free Report) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 252,768 shares of the company’s stock after acquiring an additional 6,584 shares during the quarter. King Luther Capital Management Corp’s holdings in Primo Water were worth $6,382,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PRMW. Jane Street Group LLC raised its stake in shares of Primo Water by 170.4% in the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after acquiring an additional 390,611 shares in the last quarter. Strategic Wealth Partners Ltd. bought a new position in shares of Primo Water in the first quarter valued at approximately $879,000. Intact Investment Management Inc. raised its position in shares of Primo Water by 43.6% in the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares during the period. Tidal Investments LLC lifted its stake in shares of Primo Water by 471.2% in the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock worth $1,205,000 after buying an additional 54,569 shares during the last quarter. Finally, Hiddenite Capital Partners LP boosted its holdings in shares of Primo Water by 50.0% during the 3rd quarter. Hiddenite Capital Partners LP now owns 150,000 shares of the company’s stock worth $3,788,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PRMW. StockNews.com initiated coverage on shares of Primo Water in a report on Wednesday. They issued a “buy” rating on the stock. William Blair initiated coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research note on Tuesday, October 1st. Finally, Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Primo Water has a consensus rating of “Moderate Buy” and an average price target of $25.83.
Primo Water Stock Down 0.9 %
Shares of PRMW opened at $24.21 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a 50-day simple moving average of $25.54 and a 200-day simple moving average of $23.13. Primo Water Co. has a 52 week low of $14.06 and a 52 week high of $28.06. The firm has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10.
Primo Water Announces Dividend
The company also recently disclosed a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio 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.
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