Primo Water Co. (NYSE:PRMW) Short Interest Update

Primo Water Co. (NYSE:PRMW) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 4,450,000 shares, an increase of 27.9% from the September 30th total of 3,480,000 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is currently 3.8 days.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $27.60 on Monday. The business’s 50 day simple moving average is $24.54 and its 200-day simple moving average is $22.32. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water has a 12 month low of $12.92 and a 12 month high of $28.06.

Primo Water (NYSE:PRMW) last announced 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 business 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 company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, equities analysts forecast that Primo Water will post 0.88 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRMW. Cedar Wealth Management LLC acquired a new position in shares of Primo Water during the 1st quarter worth approximately $27,000. GAMMA Investing LLC raised its position in shares of Primo Water by 375.9% during 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 during the last quarter. Blue Trust Inc. raised its holdings in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock valued at $47,000 after acquiring an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Primo Water in the 3rd quarter valued at $48,000. Finally, Crewe Advisors LLC acquired a new position in Primo Water in the 1st quarter valued at $66,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRMW has been the topic of a number of analyst reports. William Blair initiated coverage on Primo Water in a report on Thursday. They issued an “outperform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. StockNews.com lowered Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Finally, Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Primo Water presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.