Primo Water (NYSE:PRMW) Hits New 1-Year High at $16.42

Shares of Primo Water Co. (NYSE:PRMWGet Free Report) reached a new 52-week high on Thursday . The company traded as high as $16.42 and last traded at $16.35, with a volume of 57769 shares changing hands. The stock had previously closed at $16.28.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRMW. JPMorgan Chase & Co. increased their target price on Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. StockNews.com downgraded Primo Water from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 18th. CIBC raised Primo Water from a “neutral” rating to an “outperform” rating and upped their price target for the company from $17.50 to $20.00 in a report on Friday, November 3rd. TD Securities lowered their price target on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, TheStreet raised Primo Water from a “c+” rating to a “b-” rating in a report on Monday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Read Our Latest Research Report on Primo Water

Primo Water Stock Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 0.84 and a quick ratio of 0.67. The business has a 50-day simple moving average of $14.97 and a 200 day simple moving average of $14.61. The firm has a market cap of $2.60 billion, a PE ratio of 10.93, a PEG ratio of 2.10 and a beta of 1.09.

Primo Water Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 7th. This represents a $0.36 annualized dividend and a dividend yield of 2.23%. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s dividend payout ratio (DPR) is currently 21.48%.

Institutional Trading of Primo Water

Several institutional investors have recently made changes to their positions in PRMW. CIBC Asset Management Inc grew its holdings in Primo Water by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 149,496 shares of the company’s stock valued at $1,875,000 after buying an additional 713 shares in the last quarter. Captrust Financial Advisors grew its holdings in Primo Water by 1.8% during the 4th quarter. Captrust Financial Advisors now owns 46,558 shares of the company’s stock valued at $724,000 after buying an additional 810 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Primo Water by 4.1% in the 4th quarter. Amalgamated Bank now owns 20,959 shares of the company’s stock valued at $326,000 after purchasing an additional 835 shares during the last quarter. Credit Suisse AG lifted its stake in shares of Primo Water by 0.6% in the 4th quarter. Credit Suisse AG now owns 141,419 shares of the company’s stock valued at $2,198,000 after purchasing an additional 843 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Primo Water by 26.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock valued at $52,000 after purchasing an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 83.87% of the company’s stock.

Primo Water Company Profile

(Get Free Report)

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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.

Recommended Stories

Receive News & Ratings for Primo Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water and related companies with MarketBeat.com's FREE daily email newsletter.