AQR Capital Management LLC Purchases 2,435 Shares of Primo Water Co. (NYSE:PRMW)

AQR Capital Management LLC grew its position in shares of Primo Water Co. (NYSE:PRMW) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,382 shares of the company’s stock after buying an additional 2,435 shares during the quarter. AQR Capital Management LLC’s holdings in Primo Water were worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRMW. Goldman Sachs Group Inc. raised its position in Primo Water by 32.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock worth $57,945,000 after acquiring an additional 937,235 shares during the period. Wellington Management Group LLP raised its stake in shares of Primo Water by 13.0% in the fourth 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. lifted 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 last quarter. CWM LLC grew its stake in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after acquiring an additional 631 shares during the period. 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 worth $67,439,000 after acquiring 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 Analysts Forecast Growth

A number of equities analysts have weighed in on PRMW shares. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. TD Securities raised their price target on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Primo Water presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Stock Performance

Primo Water stock opened at $25.88 on Friday. The firm has a fifty day simple moving average of $23.43 and a two-hundred day simple moving average of $21.62. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water Co. has a twelve month low of $12.92 and a twelve month high of $26.07. The company has a market capitalization of $4.15 billion, a PE ratio of 16.38, a P/E/G ratio of 1.89 and a beta of 1.11.

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

Primo Water Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Thursday, August 22nd. Primo Water’s payout ratio is 22.78%.

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.