Creative Planning Boosts Stake in Primo Water Co. (NYSE:PRMW)

Creative Planning grew its holdings in shares of Primo Water Co. (NYSE:PRMW) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,301 shares of the company’s stock after purchasing an additional 1,402 shares during the period. Creative Planning’s holdings in Primo Water were worth $378,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew 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 worth $57,945,000 after purchasing an additional 937,235 shares during the period. Wellington Management Group LLP raised its position in shares of Primo Water by 13.0% during the 4th quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock valued at $40,844,000 after buying an additional 312,815 shares during the period. Vanguard Group Inc. raised its position in shares of Primo Water by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock valued at $183,003,000 after buying an additional 248,774 shares during the period. CWM LLC increased its holdings in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Primo Water by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock valued at $67,439,000 after purchasing an additional 100,702 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PRMW shares. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Trading Up 1.2 %

Shares of NYSE:PRMW opened at $26.93 on Thursday. The company has a 50 day moving average of $23.72 and a 200-day moving average of $21.82. The firm has a market cap of $4.33 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.89 and a beta of 1.11. Primo Water Co. has a twelve month low of $12.92 and a twelve month high of $27.30. 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 (NYSE:PRMW) last released its quarterly earnings results 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 analyst estimates of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.82 dividend. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

Primo Water Profile

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.