Strategic Wealth Partners Ltd. Buys 3,093 Shares of Primo Water Co. (NYSE:PRMW)

Strategic Wealth Partners Ltd. increased its stake in Primo Water Co. (NYSE:PRMW) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,958 shares of the company’s stock after buying an additional 3,093 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Primo Water were worth $1,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PRMW. Goldman Sachs Group Inc. lifted its position in Primo Water by 32.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock valued at $57,945,000 after acquiring an additional 937,235 shares during the period. Triasima Portfolio Management inc. bought a new stake in shares of Primo Water in the 2nd quarter worth approximately $12,732,000. Acadian Asset Management LLC boosted its position in shares of Primo Water by 559.2% in the 2nd quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after purchasing an additional 464,232 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Primo Water by 170.4% in the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after buying an additional 390,611 shares during the last quarter. Finally, Intact Investment Management Inc. increased its position in Primo Water by 63.9% during the 2nd quarter. Intact Investment Management Inc. now owns 961,870 shares of the company’s stock valued at $21,020,000 after buying an additional 374,870 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Water Price Performance

Shares of PRMW opened at $25.43 on Wednesday. The firm has a fifty day simple moving average of $23.22 and a two-hundred day simple moving average of $21.51. The firm has a market cap of $4.09 billion, a PE ratio of 15.80, a P/E/G ratio of 1.87 and a beta of 1.11. 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 1-year low of $12.92 and a 1-year high of $25.67.

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

Primo Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, August 22nd. Primo Water’s payout ratio is 22.36%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PRMW shares. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. CIBC upped their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 18th. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.83.

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.