Primo Water (NYSE:PRMW) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Primo Water (NYSE:PRMW) in a research report sent to investors on Tuesday. The brokerage issued a buy rating on the stock.

Several other equities research analysts have also weighed in on PRMW. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. William Blair started coverage on shares of Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating for the company. Finally, Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Two research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $24.21 on Tuesday. The company has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The company’s 50-day moving average is $25.50 and its 200 day moving average is $23.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a fifty-two week low of $14.06 and a fifty-two week high of $28.06.

Primo Water Announces Dividend

The business also recently declared a — dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a dividend of $0.82 per share. This represents a dividend yield of 1.3%. The ex-dividend date was Tuesday, November 5th. Primo Water’s dividend payout ratio is currently 22.36%.

Institutional Investors Weigh In On Primo Water

Several hedge funds have recently made changes to their positions in PRMW. Tidal Investments LLC increased its stake in shares of Primo Water by 9.5% in the 3rd quarter. Tidal Investments LLC now owns 85,353 shares of the company’s stock worth $2,155,000 after acquiring an additional 7,373 shares in the last quarter. Toronto Dominion Bank grew its holdings in Primo Water by 17.4% in the third quarter. Toronto Dominion Bank now owns 87,429 shares of the company’s stock worth $2,208,000 after purchasing an additional 12,963 shares during the period. Barclays PLC increased its stake in shares of Primo Water by 215.0% during the third quarter. Barclays PLC now owns 244,054 shares of the company’s stock valued at $6,162,000 after purchasing an additional 166,579 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Primo Water during the third quarter valued at approximately $453,000. Finally, XTX Topco Ltd bought a new stake in shares of Primo Water in the 3rd quarter worth approximately $377,000. 87.71% of the stock is currently owned by institutional investors.

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.