Primo Water (NYSE:PRMW) Hits New 52-Week High at $20.17

Primo Water Co. (NYSE:PRMW)’s stock price reached a new 52-week high on Monday . The stock traded as high as $20.17 and last traded at $20.14, with a volume of 157107 shares trading hands. The stock had previously closed at $19.89.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRMW. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Raymond James lowered shares of 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. JPMorgan Chase & Co. raised their target price on Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, TD Securities reduced their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Primo Water currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

Primo Water Stock Up 1.2 %

The business has a 50 day moving average of $17.85 and a 200-day moving average of $15.80. The stock has a market cap of $3.24 billion, a PE ratio of 13.51, a P/E/G ratio of 1.87 and a beta of 1.09. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.88.

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

Primo Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.79%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. Primo Water’s dividend payout ratio (DPR) is 24.16%.

Hedge Funds Weigh In On Primo Water

Institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its position 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 acquiring an additional 1,848 shares in the last quarter. CWM LLC raised its holdings in shares of Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in Primo Water during the 3rd quarter worth $102,000. Aigen Investment Management LP bought a new position in Primo Water in the 3rd quarter valued at about $139,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Primo Water during the third quarter valued at approximately $159,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.