Primo Water (NYSE:PRMW) Downgraded by StockNews.com

StockNews.com cut shares of Primo Water (NYSE:PRMW) from a buy rating to a hold rating in a report issued on Saturday morning.

PRMW has been the subject of several other research reports. TD Securities decreased their target price on shares of Primo Water from $26.00 to $23.00 and set a buy rating for the company in a research report on Thursday, January 11th. Raymond James downgraded 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. Finally, JPMorgan Chase & Co. raised their target price on Primo Water from $18.00 to $19.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Primo Water has a consensus rating of Moderate Buy and a consensus target price of $20.75.

Primo Water Trading Up 0.1 %

NYSE:PRMW opened at $18.97 on Friday. The firm has a market capitalization of $3.05 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.78 and a beta of 1.12. The business has a 50 day simple moving average of $17.45 and a 200 day simple moving average of $15.58. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. Primo Water has a 12-month low of $12.27 and a 12-month high of $19.01.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The company had revenue of $438.70 million during the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Equities research analysts predict that Primo Water will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.90%. Primo Water’s dividend payout ratio (DPR) is 24.16%.

Institutional Trading of Primo Water

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Primo Water by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 12,159,661 shares of the company’s stock worth $183,003,000 after purchasing an additional 248,774 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Primo Water by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company’s stock valued at $101,464,000 after buying an additional 116,453 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Primo Water by 32.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock valued at $57,945,000 after acquiring an additional 937,235 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Primo Water by 2.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock worth $67,439,000 after acquiring an additional 100,702 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Primo Water by 13.0% in the 4th quarter. Wellington Management Group LLP now owns 2,713,866 shares of the company’s stock worth $40,844,000 after acquiring an additional 312,815 shares during the last quarter. Institutional investors 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.