Royce & Associates LP Invests $4.22 Million in Primo Water Co. (NYSE:PRMW)

Royce & Associates LP bought a new stake in shares of Primo Water Co. (NYSE:PRMW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 167,116 shares of the company’s stock, valued at approximately $4,220,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC lifted its holdings in shares of Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after acquiring an additional 390,611 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in shares of Primo Water in the 1st quarter worth about $879,000. Intact Investment Management Inc. increased its position in shares of Primo Water by 43.6% during the 3rd 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 last quarter. Tidal Investments LLC raised its holdings in shares of Primo Water by 471.2% during the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after buying an additional 54,569 shares in the last quarter. Finally, Hiddenite Capital Partners LP boosted its stake in Primo Water by 50.0% in the third 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 in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Price Performance

PRMW stock opened at $24.21 on Tuesday. The stock 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. The firm’s 50-day moving average price is $25.49 and its two-hundred day moving average price is $23.09. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 12-month low of $14.06 and a 12-month high of $28.06.

Primo Water Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on PRMW shares. William Blair started coverage on shares of Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.