Plato Investment Management Ltd Acquires New Position in Primo Water Co. (NYSE:PRMW)

Plato Investment Management Ltd bought a new position in shares of Primo Water Co. (NYSE:PRMW) during the third quarter, HoldingsChannel.com reports. The firm bought 15,525 shares of the company’s stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its stake in shares of Primo Water by 0.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock valued at $96,647,000 after acquiring an additional 32,875 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Primo Water by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock worth $34,868,000 after purchasing an additional 49,500 shares during the period. TD Asset Management Inc raised its position in Primo Water by 27.3% in the 2nd quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock valued at $30,623,000 after purchasing an additional 300,929 shares in the last quarter. Intact Investment Management Inc. boosted its stake in shares of Primo Water by 43.6% in the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after buying an additional 419,370 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Primo Water by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company’s stock worth $29,788,000 after buying an additional 53,241 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Price Performance

Shares of PRMW opened at $24.21 on Friday. 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 1-year low of $14.06 and a 1-year high of $28.06. The stock has a market cap of $3.88 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The firm has a fifty day moving average price of $25.46 and a 200 day moving average price of $22.96.

Primo Water Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PRMW. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. William Blair began coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating on the stock. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.