Cambridge Investment Research Advisors Inc. Acquires 29,192 Shares of Primo Water Co. (NYSE:PRMW)

Cambridge Investment Research Advisors Inc. increased its stake in Primo Water Co. (NYSE:PRMW) by 51.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,115 shares of the company’s stock after purchasing an additional 29,192 shares during the quarter. Cambridge Investment Research Advisors Inc. owned approximately 0.05% of Primo Water worth $1,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Cedar Wealth Management LLC purchased a new stake in shares of Primo Water in the first quarter worth $27,000. CWM LLC raised its holdings in 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 acquiring an additional 631 shares during the period. Crewe Advisors LLC purchased a new position in shares of Primo Water in the first quarter valued at about $66,000. Bayesian Capital Management LP bought a new position in shares of Primo Water in the first quarter worth about $235,000. Finally, Aigen Investment Management LP grew its position in shares of Primo Water by 89.8% during the fourth quarter. Aigen Investment Management LP now owns 19,047 shares of the company’s stock worth $287,000 after purchasing an additional 9,010 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PRMW shares. CIBC boosted their price target on Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a report on Tuesday, June 18th. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, June 18th. Finally, TD Securities lifted their target price on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Up 0.4 %

Shares of NYSE PRMW opened at $22.10 on Tuesday. 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 $12.92 and a 12-month high of $25.60. The firm’s 50-day moving average price is $21.53 and its 200-day moving average price is $20.07. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.62 and a beta of 1.10.

Primo Water (NYSE:PRMW) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. On average, equities research analysts anticipate that Primo Water Co. will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, August 22nd. Primo Water’s payout ratio is 22.36%.

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.