Dimensional Fund Advisors LP Increases Holdings in Primo Water Co. (NYSE:PRMW)

Dimensional Fund Advisors LP boosted its holdings in Primo Water Co. (NYSE:PRMW) by 4.1% during the second quarter, HoldingsChannel reports. The fund owned 1,362,600 shares of the company’s stock after buying an additional 53,241 shares during the period. Dimensional Fund Advisors LP’s holdings in Primo Water were worth $29,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRMW. Massachusetts Financial Services Co. MA boosted its stake in shares of Primo Water by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 179,359 shares of the company’s stock valued at $3,921,000 after purchasing an additional 16,494 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Primo Water by 28.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,083 shares of the company’s stock worth $352,000 after buying an additional 3,524 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in Primo Water during the 2nd quarter worth $217,000. American Century Companies Inc. raised its stake in Primo Water by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 17,695 shares of the company’s stock valued at $387,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Primo Water in the 2nd quarter worth $151,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Primo Water Trading Down 0.7 %

Primo Water stock opened at $24.76 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The firm’s 50-day moving average is $22.92 and its 200-day moving average is $21.29. The company has a market cap of $3.98 billion, a P/E ratio of 15.38, a PEG ratio of 1.87 and a beta of 1.10. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $25.67.

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

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 annualized dividend and a dividend yield of 1.45%. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Analyst Upgrades and Downgrades

PRMW has been the subject of a number of research analyst reports. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday. Finally, CIBC lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.