Primo Water Co. (NYSE:PRMW) Receives $25.83 Consensus Price Target from Brokerages

Primo Water Co. (NYSE:PRMW) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $25.83.

A number of equities analysts recently issued reports on PRMW shares. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. William Blair initiated coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating on the stock. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in Primo Water by 215.0% in the third quarter. Barclays PLC now owns 244,054 shares of the company’s stock valued at $6,162,000 after purchasing an additional 166,579 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Primo Water in the third quarter valued at about $453,000. XTX Topco Ltd purchased a new position in Primo Water in the third quarter valued at about $377,000. National Bank of Canada FI grew its stake in Primo Water by 64.9% in the third quarter. National Bank of Canada FI now owns 115,448 shares of the company’s stock valued at $2,913,000 after purchasing an additional 45,435 shares in the last quarter. Finally, State Street Corp grew its stake in Primo Water by 15.0% in the third quarter. State Street Corp now owns 3,053,284 shares of the company’s stock valued at $77,095,000 after purchasing an additional 399,201 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Price Performance

Shares of NYSE PRMW opened at $24.21 on Thursday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The stock has a 50 day moving average of $25.47 and a two-hundred day moving average of $23.03. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06.

Primo Water Dividend Announcement

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