Daiwa Securities Group Inc. Increases Position in Primo Water Co. (NYSE:PRMW)

Daiwa Securities Group Inc. lifted its holdings in shares of Primo Water Co. (NYSE:PRMW) by 126.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,600 shares of the company’s stock after acquiring an additional 8,700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Primo Water were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Raymond James Trust N.A. grew its stake in Primo Water by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 18,778 shares of the company’s stock valued at $474,000 after purchasing an additional 424 shares during the period. Massachusetts Financial Services Co. MA grew its position in Primo Water by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 189,478 shares of the company’s stock valued at $4,784,000 after buying an additional 10,119 shares during the period. Intech Investment Management LLC bought a new stake in Primo Water in the third quarter worth about $1,073,000. King Luther Capital Management Corp boosted its stake in Primo Water by 2.7% in the third quarter. King Luther Capital Management Corp now owns 252,768 shares of the company’s stock valued at $6,382,000 after acquiring an additional 6,584 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its position in shares of Primo Water by 4.3% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 133,132 shares of the company’s stock valued at $3,362,000 after acquiring an additional 5,432 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRMW shares. William Blair assumed coverage on shares of Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating on the stock. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Finally, StockNews.com initiated coverage on Primo Water in a research note on Tuesday, November 26th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Primo Water presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Down 0.9 %

Shares of NYSE PRMW opened at $24.21 on Friday. The business has a 50-day simple moving average of $25.46 and a two-hundred day simple moving average of $23.30. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company 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. Primo Water Co. has a 52 week low of $14.06 and a 52 week high of $28.06.

Primo Water Announces Dividend

The firm also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.82 per share. The ex-dividend date was 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.