Primo Water (NYSE:PRMW) Sees Strong Trading Volume – What’s Next?

Shares of Primo Water Co. (NYSE:PRMW) saw unusually-strong trading volume on Friday . Approximately 10,030,067 shares were traded during mid-day trading, an increase of 716% from the previous session’s volume of 1,228,735 shares.The stock last traded at $26.28 and had previously closed at $26.23.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PRMW shares. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research note on Sunday, October 13th. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Finally, William Blair assumed coverage on shares of Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Primo Water presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Price Performance

The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 1.97 and a beta of 1.11. The business’s 50-day simple moving average is $24.92 and its two-hundred day simple moving average is $22.51. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.

Primo Water (NYSE:PRMW) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The company had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Primo Water Co. will post 0.88 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is presently 22.78%.

Hedge Funds Weigh In On Primo Water

Several large investors have recently bought and sold shares of the stock. Triasima Portfolio Management inc. purchased a new stake in shares of Primo Water during the 2nd quarter valued at $12,732,000. Acadian Asset Management LLC increased its holdings in Primo Water by 559.2% in the 2nd quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after acquiring an additional 464,232 shares during the last quarter. Intact Investment Management Inc. increased its holdings in Primo Water by 43.6% in the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock worth $34,849,000 after acquiring an additional 419,370 shares during the last quarter. Jane Street Group LLC increased its holdings in Primo Water by 170.4% in the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after acquiring an additional 390,611 shares during the last quarter. Finally, Forge First Asset Management Inc. purchased a new stake in Primo Water in the 1st quarter worth about $6,792,000. 87.71% of the stock is currently owned by institutional investors.

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.