Point72 Hong Kong Ltd Takes Position in Primo Water Co. (NYSE:PRMW)

Point72 Hong Kong Ltd acquired a new position in Primo Water Co. (NYSE:PRMW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 38,356 shares of the company's stock, valued at approximately $838,000.

Several other institutional investors also recently modified their holdings of PRMW. Cedar Wealth Management LLC bought a new stake in Primo Water during the first quarter valued at $27,000. CWM LLC boosted its position in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company's stock worth $43,000 after purchasing an additional 631 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Primo Water during the 1st quarter worth about $66,000. Clearstead Trust LLC bought a new position in shares of Primo Water during the 2nd quarter worth about $109,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Primo Water during the 2nd quarter worth about $151,000. Institutional investors own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PRMW shares. CIBC increased their price objective on shares of Primo Water from $24.00 to $26.00 and gave the stock an "outperformer" rating in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an "outperform" rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, June 18th. StockNews.com lowered shares of Primo Water from a "buy" rating to a "hold" rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, June 18th. Finally, TD Securities raised their price target on shares of Primo Water from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.83.

Primo Water Stock Performance

Shares of Primo Water stock traded up $0.72 during mid-day trading on Friday, hitting $24.98. 957,867 shares of the stock were exchanged, compared to its average volume of 1,210,479. Primo Water Co. has a 12 month low of $12.92 and a 12 month high of $25.60. The company has a 50-day simple moving average of $22.59 and a 200 day simple moving average of $21.04. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a market capitalization of $4.00 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $485.00 million for the quarter, compared to analysts' expectations of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. Primo Water's revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Sell-side analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.44%. Primo Water's dividend payout ratio (DPR) is presently 22.36%.

Primo Water 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.