Primo Water Co. (NYSE:PRMW) Stock Position Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its position in Primo Water Co. (NYSE:PRMW) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 291,644 shares of the company’s stock after purchasing an additional 5,609 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Primo Water were worth $4,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PRMW. Wellington Management Group LLP bought a new stake in shares of Primo Water during the 3rd quarter worth about $33,135,000. Raymond James & Associates raised its position in shares of Primo Water by 303.5% during the 3rd quarter. Raymond James & Associates now owns 806,004 shares of the company’s stock worth $11,123,000 after buying an additional 606,256 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Primo Water by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,910,887 shares of the company’s stock worth $164,370,000 after buying an additional 508,251 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Primo Water by 10.8% during the 3rd quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock worth $37,444,000 after buying an additional 265,057 shares in the last quarter. Finally, River Road Asset Management LLC bought a new stake in shares of Primo Water during the 3rd quarter worth about $3,537,000. 87.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRMW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Raymond James downgraded shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price on the stock. in a report on Wednesday, April 3rd. StockNews.com downgraded shares of Primo Water from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 18th. Finally, TD Securities dropped their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.75.

Primo Water Stock Performance

Primo Water stock opened at $18.85 on Thursday. The firm’s 50 day simple moving average is $17.24 and its 200-day simple moving average is $15.45. The company has a market cap of $3.03 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. Primo Water Co. has a fifty-two week low of $12.27 and a fifty-two week high of $19.01.

Primo Water (NYSE:PRMW) last released its earnings results 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 firm had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a return on equity of 8.55% and a net margin of 10.82%. As a group, equities research analysts predict that Primo Water Co. will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.09 dividend. This is an increase from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio (DPR) is 24.16%.

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.