Crewe Advisors LLC Invests $66,000 in Primo Water Co. (NYSE:PRMW)

Crewe Advisors LLC bought a new stake in shares of Primo Water Co. (NYSE:PRMW) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,600 shares of the company’s stock, valued at approximately $66,000.

Other hedge funds have also modified their holdings of the company. Cedar Wealth Management LLC purchased a new position in shares of Primo Water during the first quarter valued at $27,000. Signaturefd LLC grew its stake in Primo Water by 358.1% during the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after acquiring an additional 1,848 shares in the last quarter. CWM LLC increased its holdings in shares of Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after purchasing an additional 631 shares during the period. Raymond James Trust N.A. lifted its position in shares of Primo Water by 32.5% in the fourth quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock worth $231,000 after purchasing an additional 3,759 shares in the last quarter. Finally, Aigen Investment Management LP boosted its holdings in shares of Primo Water by 89.8% during the fourth quarter. Aigen Investment Management LP now owns 19,047 shares of the company’s stock worth $287,000 after purchasing an additional 9,010 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Primo Water from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Raymond James cut Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective for the company. in a research report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. TD Securities lifted their price target on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, CIBC boosted their price target on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Primo Water currently has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Performance

Primo Water stock traded up $0.16 during trading hours on Friday, reaching $21.52. 97,270 shares of the company were exchanged, compared to its average volume of 1,205,132. Primo Water Co. has a 12 month low of $12.92 and a 12 month high of $25.60. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 1.54 and a beta of 1.10. The company has a current ratio of 2.13, a quick ratio of 2.02 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $21.83 and a 200 day moving average of $18.66.

Primo Water (NYSE:PRMW) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. As a group, research analysts anticipate that Primo Water Co. will post 0.89 earnings per share for the current year.

Primo Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, June 7th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.67%. Primo Water’s dividend payout ratio is presently 22.36%.

Primo Water Company 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.