Polar Asset Management Partners Inc. Makes New $2.06 Million Investment in Primo Water Co. (NYSE:PRMW)

Polar Asset Management Partners Inc. purchased a new stake in Primo Water Co. (NYSE:PRMW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 81,400 shares of the company’s stock, valued at approximately $2,055,000. Polar Asset Management Partners Inc. owned 0.05% of Primo Water as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in Primo Water by 18.9% in the third quarter. FMR LLC now owns 17,432,920 shares of the company’s stock valued at $440,181,000 after acquiring an additional 2,765,388 shares during the last quarter. Triasima Portfolio Management inc. bought a new stake in shares of Primo Water in the 2nd quarter valued at $12,732,000. Cinctive Capital Management LP increased its position in shares of Primo Water by 219.1% during the third quarter. Cinctive Capital Management LP now owns 714,389 shares of the company’s stock worth $18,038,000 after buying an additional 490,486 shares during the period. Acadian Asset Management LLC raised its stake in Primo Water by 559.2% during the second quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after buying an additional 464,232 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in 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 buying an additional 419,370 shares during the period. Institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

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

Primo Water Price Performance

Shares of NYSE:PRMW opened at $24.21 on Friday. Primo Water Co. has a twelve month low of $14.06 and a twelve month high of $28.06. The stock’s 50 day moving average is $25.39 and its 200-day moving average is $23.36. 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 firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10.

Primo Water Dividend Announcement

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

Primo Water 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.