Primo Water (NYSE:PRMW) Sees Large Volume Increase

Primo Water Co. (NYSE:PRMW) saw unusually-strong trading volume on Thursday . Approximately 957,443 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 1,040,857 shares.The stock last traded at $22.77 and had previously closed at $20.11.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PRMW shares. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. TD Securities decreased 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. JPMorgan Chase & Co. raised their price objective on shares of Primo Water from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Primo Water Price Performance

The business’s 50-day moving average price is $18.01 and its 200 day moving average price is $15.87. 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 company has a market capitalization of $3.41 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 1.87 and a beta of 1.09.

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

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.09 dividend. This is an increase from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio (DPR) is currently 24.16%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Raymond James & Associates increased its stake in shares of Primo Water by 18.1% in the fourth quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock worth $14,327,000 after buying an additional 145,966 shares during the period. Ancora Advisors LLC increased its stake in shares of Primo Water by 2.0% in the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock worth $8,442,000 after buying an additional 11,920 shares during the period. Walleye Capital LLC boosted its holdings in Primo Water by 761.6% in the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock valued at $1,532,000 after acquiring an additional 98,144 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Primo Water by 10.8% in the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after acquiring an additional 265,057 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Primo Water by 49.3% in the third quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock valued at $4,310,000 after acquiring an additional 103,103 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

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.