Raymond James & Associates Reduces Holdings in Primo Water Co. (NYSE:PRMW)

Raymond James & Associates cut its position in Primo Water Co. (NYSE:PRMW - Free Report) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 966,825 shares of the company's stock after selling 26,198 shares during the period. Raymond James & Associates owned 0.60% of Primo Water worth $24,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Primo Water by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company's stock worth $183,003,000 after buying an additional 248,774 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Primo Water by 2.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company's stock valued at $67,439,000 after acquiring an additional 100,702 shares during the last quarter. Tobam grew its holdings in shares of Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company's stock valued at $306,000 after purchasing an additional 705 shares during the period. Inspire Investing LLC acquired a new stake in Primo Water during the first quarter worth about $874,000. Finally, Global Alpha Capital Management Ltd. raised its stake in Primo Water by 13.5% during the first quarter. Global Alpha Capital Management Ltd. now owns 127,000 shares of the company's stock worth $2,313,000 after purchasing an additional 15,100 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRMW. Raymond James downgraded Primo Water from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Primo Water from a "buy" rating to a "hold" rating in a report on Sunday, October 13th. William Blair began coverage on shares of Primo Water in a research note on Thursday. They set an "outperform" rating for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Primo Water currently has a consensus rating of "Moderate Buy" and an average target price of $25.83.

Primo Water Stock Performance

Shares of NYSE:PRMW traded up $0.09 during midday trading on Friday, hitting $27.60. The stock had a trading volume of 672,921 shares, compared to its average volume of 1,191,549. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $28.06. 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 stock has a 50 day moving average price of $24.43 and a two-hundred day moving average price of $22.19. The company has a market capitalization of $4.44 billion, a PE ratio of 17.24, a P/E/G ratio of 1.89 and a beta of 1.11.

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

Primo Water Dividend Announcement

The business also recently announced a -- dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a yield of 1.3%. 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.