Primo Water Co. (NYSE:PRMW) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in Primo Water Co. (NYSE:PRMW) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 291,644 shares of the company’s stock after acquiring an additional 5,609 shares during the period. Wedge Capital Management L L P NC owned approximately 0.18% of Primo Water worth $4,389,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings 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 during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Primo Water by 1.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company’s stock worth $101,464,000 after buying an additional 116,453 shares during the last quarter. William Blair Investment Management LLC increased its holdings 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 during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Primo Water during the 3rd quarter worth approximately $33,135,000. Finally, Raymond James & Associates increased its holdings in shares of Primo Water by 18.1% during the 4th quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock worth $14,327,000 after buying an additional 145,966 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PRMW shares. TD Securities lowered their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. StockNews.com cut shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 18th. Raymond James cut shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their price objective 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Primo Water has an average rating of “Buy” and a consensus price target of $20.75.

Primo Water Stock Performance

Shares of PRMW stock opened at $18.85 on Thursday. 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 52 week low of $12.27 and a 52 week high of $19.01. The stock has a market capitalization of $3.03 billion, a PE ratio of 12.65, a P/E/G ratio of 1.76 and a beta of 1.12. The firm has a 50 day moving average of $17.24 and a two-hundred day moving average of $15.45.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). The firm had revenue of $438.70 million for 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%. On average, research analysts predict that Primo Water Co. will post 0.82 EPS for the current fiscal year.

Primo Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.09 per share. This is a boost 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 was Thursday, March 7th. Primo Water’s payout ratio 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.