Primo Water (NYSE:PRMW) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Primo Water (NYSE:PRMW) in a research report report published on Tuesday. The firm issued a buy rating on the stock.

A number of other brokerages have also recently issued reports on PRMW. Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. William Blair assumed coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating on the stock. Finally, Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Trading Down 0.9 %

Shares of PRMW stock opened at $24.21 on Tuesday. The stock has a market cap 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. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water has a fifty-two week low of $14.06 and a fifty-two week high of $28.06. The business has a fifty day simple moving average of $25.53 and a 200-day simple moving average of $23.25.

Primo Water Dividend Announcement

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a $0.82 dividend. The ex-dividend date was Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

Hedge Funds Weigh In On Primo Water

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased 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 worth $31,000 after purchasing an additional 981 shares during the last quarter. Blue Trust Inc. increased 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 worth $47,000 after buying an additional 641 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Primo Water in the 3rd quarter worth $48,000. CWM LLC boosted its holdings in Primo Water by 31.5% in the third quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after acquiring an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in Primo Water during the second quarter valued at about $109,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.