Primo Water (NYSE:PRMW) Sees Unusually-High Trading Volume - Here's Why

Primo Water Co. (NYSE:PRMW - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 10,030,067 shares changed hands during mid-day trading, an increase of 716% from the previous session's volume of 1,228,735 shares.The stock last traded at $26.28 and had previously closed at $26.23.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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, October 1st. Raymond James cut shares of Primo Water from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Primo Water from a "buy" rating to a "hold" rating in a research note on Sunday, October 13th. Finally, William Blair assumed coverage on Primo Water in a research report on Thursday, October 24th. They set an "outperform" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.83.

Primo Water Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The stock has a fifty day moving average price of $25.01 and a 200-day moving average price of $22.57. The company has a market cap of $4.25 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

Primo Water (NYSE:PRMW - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The company had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same quarter last year, the company posted $0.22 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water's dividend payout ratio (DPR) is presently 22.78%.

Hedge Funds Weigh In On Primo Water

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Primo Water by 52.1% during the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company's stock worth $47,000 after acquiring an additional 641 shares during the last quarter. Tobam lifted its position in Primo Water by 4.4% during the first quarter. Tobam now owns 16,780 shares of the company's stock worth $306,000 after acquiring an additional 705 shares during the last quarter. CWM LLC grew its holdings 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 buying an additional 792 shares in the last quarter. GAMMA Investing LLC raised its stake in Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company's stock worth $31,000 after purchasing an additional 981 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Primo Water by 3.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company's stock valued at $781,000 after buying an additional 1,307 shares in the last quarter. 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.