StockNews.com Begins Coverage on Primo Water (NYSE:PRMW)

StockNews.com assumed coverage on shares of Primo Water (NYSE:PRMW) in a report published on Wednesday. The brokerage issued a buy rating on the stock.

A number of other research analysts have also commented on PRMW. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. William Blair began coverage on Primo Water in a research report on Thursday, October 24th. They issued an “outperform” rating for the company. Finally, Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Trading Down 0.9 %

NYSE PRMW opened at $24.21 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The company has a 50-day moving average of $25.54 and a 200-day moving average of $23.18. 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 has a 12 month low of $14.06 and a 12 month high of $28.06.

Primo Water Dividend Announcement

The business also recently announced a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s payout ratio is presently 22.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Primo Water by 52.1% in the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after acquiring an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Primo Water in the 3rd quarter worth approximately $48,000. CWM LLC grew its position in Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after acquiring an additional 792 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in Primo Water during the 1st quarter worth approximately $66,000. 87.71% of the stock is owned by institutional investors.

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.