Primo Water (NYSE:PRMW) Now Covered by William Blair

William Blair initiated coverage on shares of Primo Water (NYSE:PRMW) in a report issued on Thursday, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

Several other brokerages also recently issued reports on PRMW. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Finally, StockNews.com cut Primo Water from a “buy” rating to a “hold” rating in a research report on Sunday, October 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Up 0.3 %

PRMW opened at $27.60 on Thursday. Primo Water has a one year low of $12.92 and a one year high of $28.06. 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 stock has a market capitalization of $4.44 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. The business’s 50-day simple moving average is $24.54 and its 200-day simple moving average is $22.29.

Primo Water (NYSE:PRMW) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Analysts anticipate that Primo Water will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The company also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio is currently 22.36%.

Institutional Investors Weigh In On Primo Water

A number of institutional investors have recently added to or reduced their stakes in PRMW. Vanguard Group Inc. boosted its stake in shares of Primo Water by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock valued at $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 0.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock worth $96,647,000 after purchasing an additional 32,875 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Primo Water by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock worth $34,868,000 after purchasing an additional 49,500 shares during the period. TD Asset Management Inc grew its stake in shares of Primo Water by 27.3% during the 2nd quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock worth $30,623,000 after purchasing an additional 300,929 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Primo Water by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company’s stock valued at $29,788,000 after purchasing an additional 53,241 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.