Primo Water (NYSE:PRMW) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Primo Water (NYSE:PRMW) in a research note issued to investors on Tuesday. The firm issued a buy rating on the stock.

PRMW has been the topic of a number of other reports. William Blair started coverage on shares of Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday, October 1st. Finally, Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Trading Down 0.9 %

Shares of NYSE:PRMW opened at $24.21 on Tuesday. The company has a 50 day moving average of $25.50 and a 200-day moving average of $23.26. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm has a market cap of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. Primo Water has a twelve month low of $14.06 and a twelve month high of $28.06.

Primo Water Announces Dividend

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

Institutional Investors Weigh In On Primo Water

Several large investors have recently added to or reduced their stakes in PRMW. GAMMA Investing LLC increased its stake in Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after buying an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Primo Water in the 3rd quarter worth about $48,000. CWM LLC lifted its position in Primo Water by 31.5% in the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after acquiring an additional 792 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in Primo Water during the 2nd quarter valued at about $109,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Primo Water

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.