Primo Water Co. (NYSE:PRMW) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in shares of Primo Water Co. (NYSE:PRMW) by 30.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,168 shares of the company’s stock after buying an additional 159,703 shares during the period. Bank of Montreal Can owned approximately 0.43% of Primo Water worth $17,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRMW. Allspring Global Investments Holdings LLC grew its position in Primo Water by 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock worth $96,647,000 after purchasing an additional 32,875 shares during the last quarter. Renaissance Technologies LLC raised its stake in Primo Water by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock worth $34,868,000 after acquiring an additional 49,500 shares during the last quarter. TD Asset Management Inc raised its stake in Primo Water by 27.3% in the 2nd quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock worth $30,623,000 after acquiring an additional 300,929 shares during the last quarter. Intact Investment Management Inc. lifted its position in Primo Water by 43.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock worth $34,849,000 after acquiring an additional 419,370 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Primo Water by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company’s stock worth $29,788,000 after purchasing an additional 53,241 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRMW shares. StockNews.com began coverage on shares of Primo Water in a report on Tuesday, November 26th. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, William Blair initiated coverage on Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Performance

NYSE PRMW opened at $24.21 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water Co. has a 1-year low of $14.06 and a 1-year high of $28.06. The company has a market cap of $3.88 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The stock’s 50 day simple moving average is $25.46 and its 200-day simple moving average is $23.30.

Primo Water Announces Dividend

The firm also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $0.82 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is 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.