Analysts Set Primo Water Co. (NYSE:PRMW) Target Price at $25.83

Primo Water Co. (NYSE:PRMW - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $25.83.

A number of analysts have recently commented on PRMW shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Raymond James downgraded shares of Primo Water from an "outperform" rating to a "market perform" rating in a research report on Wednesday, October 2nd. StockNews.com raised Primo Water from a "hold" rating to a "buy" rating in a report on Thursday. Finally, William Blair started coverage on Primo Water in a report on Thursday, October 24th. They issued an "outperform" rating for the company.

Hedge Funds Weigh In On Primo Water

Several institutional investors and hedge funds have recently bought and sold shares of PRMW. Captrust Financial Advisors purchased a new stake in Primo Water in the third quarter worth about $202,000. Walleye Trading LLC grew its stake in shares of Primo Water by 9.9% during the 3rd quarter. Walleye Trading LLC now owns 261,495 shares of the company's stock valued at $6,603,000 after acquiring an additional 23,565 shares during the period. Townsquare Capital LLC purchased a new stake in Primo Water in the 3rd quarter worth approximately $209,000. FMR LLC raised its stake in Primo Water by 18.9% during the 3rd quarter. FMR LLC now owns 17,432,920 shares of the company's stock worth $440,181,000 after acquiring an additional 2,765,388 shares during the period. Finally, Bank of Montreal Can raised its stake in Primo Water by 30.2% during the 3rd quarter. Bank of Montreal Can now owns 689,168 shares of the company's stock worth $17,216,000 after acquiring an additional 159,703 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Primo Water Stock Down 0.9 %

Shares of PRMW stock traded down $0.23 during mid-day trading on Thursday, hitting $24.21. The company's stock had a trading volume of 11,422,300 shares, compared to its average volume of 1,915,558. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water has a 52-week low of $14.06 and a 52-week high of $28.06. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The business has a 50-day moving average price of $25.45 and a 200 day moving average price of $22.95.

Primo Water Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water's dividend payout ratio (DPR) is 22.36%.

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.