Primo Water (NYSE:PRMW) Hits New 12-Month High at $19.01

Shares of Primo Water Co. (NYSE:PRMW) hit a new 52-week high during trading on Friday . The company traded as high as $19.01 and last traded at $19.00, with a volume of 39302 shares traded. The stock had previously closed at $18.85.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price target 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. TD Securities dropped their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 11th. StockNews.com cut shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 18th. Finally, Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.75.

Primo Water Trading Up 0.5 %

The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average is $17.31 and its two-hundred day moving average is $15.48.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The business had revenue of $438.70 million for the quarter, compared to analyst estimates of $582.93 million. Equities analysts anticipate that Primo Water Co. will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a yield of 1.90%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s dividend payout ratio (DPR) is 24.16%.

Institutional Investors Weigh In On Primo Water

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC raised its stake in Primo Water by 358.1% during the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after buying an additional 1,848 shares during the period. CWM LLC increased its stake in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares in the last quarter. Nomura Asset Management Co. Ltd. bought a new position in Primo Water in the third quarter valued at approximately $102,000. Aigen Investment Management LP bought a new stake in shares of Primo Water during the third quarter worth $139,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Primo Water during the third quarter worth $159,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

About Primo Water

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.