Primo Water Co. (NYSE:PRMW) Stake Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. raised its stake in Primo Water Co. (NYSE:PRMW) by 8.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 463,000 shares of the company’s stock after buying an additional 38,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Primo Water were worth $6,975,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after purchasing an additional 1,848 shares during the period. Nomura Asset Management Co. Ltd. acquired a new position in shares of Primo Water during the third quarter valued at $102,000. Aigen Investment Management LP acquired a new position in Primo Water during the third quarter worth about $139,000. Blueshift Asset Management LLC acquired a new position in Primo Water during the third quarter worth about $159,000. Finally, Gitterman Wealth Management LLC acquired a new position in Primo Water during the third quarter worth about $204,000. 87.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRMW. Raymond James cut Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, April 3rd. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. raised their price objective on Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, TD Securities cut their price objective on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.75.

Primo Water Stock Performance

Shares of NYSE PRMW traded up $0.10 during midday trading on Friday, hitting $18.95. 525,716 shares of the company’s stock were exchanged, compared to its average volume of 877,157. The firm has a market capitalization of $3.05 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The company’s 50 day moving average price is $17.38 and its 200 day moving average price is $15.52. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. Primo Water Co. has a 12 month low of $12.27 and a 12 month high of $19.01.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). The company had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. As a group, analysts predict that Primo Water Co. will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s payout ratio is 24.16%.

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.