Fmr LLC Acquires 2,765,388 Shares of Primo Water Co. (NYSE:PRMW)

Fmr LLC grew its holdings in Primo Water Co. (NYSE:PRMW) by 18.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,432,920 shares of the company’s stock after purchasing an additional 2,765,388 shares during the quarter. Fmr LLC owned approximately 0.11% of Primo Water worth $440,181,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after buying an additional 981 shares in the last quarter. Blue Trust Inc. raised its position in shares of Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after acquiring an additional 641 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Primo Water during the 3rd quarter worth $48,000. CWM LLC grew its stake in Primo Water by 31.5% in the third quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in Primo Water in the second quarter worth about $109,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Primo Water Price Performance

NYSE PRMW opened at $24.21 on Friday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. 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 stock’s fifty day moving average price is $25.46 and its 200 day moving average price is $23.28. Primo Water Co. has a 1 year low of $14.06 and a 1 year high of $28.06.

Primo Water Announces Dividend

The company also recently announced a — dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $0.82 per share. 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 Company 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.