Credit Suisse AG Buys 4,660 Shares of Primo Water Co. (NYSE:PRMW)

Credit Suisse AG boosted its stake in shares of Primo Water Co. (NYSE:PRMW – Get Rating) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 140,576 shares of the company’s stock after acquiring an additional 4,660 shares during the quarter. Credit Suisse AG’s holdings in Primo Water were worth $1,764,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PRMW. US Bancorp DE lifted its position in Primo Water by 76.0% during the 3rd quarter. US Bancorp DE now owns 2,325 shares of the company’s stock valued at $29,000 after purchasing an additional 1,004 shares during the period. Ancora Advisors LLC acquired a new position in Primo Water during the 1st quarter valued at about $36,000. Great West Life Assurance Co. Can acquired a new position in Primo Water during the 3rd quarter valued at about $95,000. Fulton Bank N.A. acquired a new position in Primo Water during the 3rd quarter valued at about $154,000. Finally, Bridgefront Capital LLC acquired a new position in Primo Water during the 1st quarter valued at about $177,000. 88.68% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Stock Performance

Shares of PRMW stock opened at $15.35 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.60 and a current ratio of 0.76. The company has a market capitalization of $2.45 billion, a P/E ratio of 80.79 and a beta of 1.05. The company’s 50 day moving average price is $15.61 and its two-hundred day moving average price is $14.65. Primo Water Co. has a 52 week low of $12.15 and a 52 week high of $16.47.

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, March 10th will be paid a dividend of $0.08 per share. This is a boost from Primo Water’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, March 9th. Primo Water’s dividend payout ratio (DPR) is currently 168.42%.

Insider Transactions at Primo Water

In other news, Director Jeremy S. G. Fowden sold 3,760 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $16.00, for a total transaction of $60,160.00. Following the completion of the transaction, the director now directly owns 1,268,770 shares of the company’s stock, valued at approximately $20,300,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jeremy S. G. Fowden sold 3,760 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $16.00, for a total value of $60,160.00. Following the completion of the transaction, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,300,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeremy S. G. Fowden sold 47,630 shares of the firm’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $16.01, for a total transaction of $762,556.30. Following the completion of the transaction, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,313,007.70. The disclosure for this sale can be found here. Insiders sold 141,853 shares of company stock valued at $2,280,980 in the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Primo Water from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 8th. TheStreet upgraded shares of Primo Water from a “c” rating to a “b-” rating in a research report on Thursday, February 23rd. CIBC downgraded shares of Primo Water from a “sector outperform” rating to a “neutral” rating in a research report on Friday, February 24th. Finally, TD Securities increased their price target on shares of Primo Water from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, November 11th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Primo Water Company Profile

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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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Nursery, Sierra Springs, Sparkletts, Clear Mountain Natural Spring Water, Earth2O, Renü, and Water Event Pure Water Solutions brands in the United States; Canadian Springs and Labrador Source brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.