Primo Water (NYSE:PRMW) Reaches New 1-Year High at $16.44

Primo Water Co. (NYSE:PRMWGet Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.44 and last traded at $16.34, with a volume of 105228 shares changing hands. The stock had previously closed at $16.24.

Wall Street Analyst Weigh In

PRMW has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. TheStreet upgraded shares of Primo Water from a “c+” rating to a “b-” rating in a report on Monday, December 4th. StockNews.com lowered shares of Primo Water from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 18th. Finally, TD Securities dropped their target price on Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Check Out Our Latest Report on PRMW

Primo Water Stock Performance

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 1.53 and a beta of 1.11. The company has a quick ratio of 0.67, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The stock has a 50-day moving average price of $15.10 and a 200 day moving average price of $14.66.

Primo Water Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Friday, March 8th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 7th. This is an increase from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.20%. Primo Water’s payout ratio is currently 21.48%.

Hedge Funds Weigh In On Primo Water

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRMW. Signaturefd LLC boosted its holdings in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after purchasing an additional 1,848 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Primo Water in the first quarter valued at approximately $36,000. PNC Financial Services Group Inc. lifted its stake in Primo Water by 26.1% in the second quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock valued at $52,000 after buying an additional 853 shares during the last quarter. Point72 Middle East FZE purchased a new stake in Primo Water in the fourth quarter valued at approximately $54,000. Finally, Advisor Group Holdings Inc. lifted its stake in Primo Water by 209.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock valued at $90,000 after buying an additional 3,945 shares during the last quarter. 83.87% of the stock is owned by institutional investors and hedge funds.

About Primo Water

(Get Free Report)

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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, and RenĂ¼ brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.

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