Green Alpha Advisors LLC Purchases 4,435 Shares of Primo Water Co. (NYSE:PRMW)

Green Alpha Advisors LLC raised its position in Primo Water Co. (NYSE:PRMW) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,584 shares of the company’s stock after buying an additional 4,435 shares during the quarter. Green Alpha Advisors LLC’s holdings in Primo Water were worth $459,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PRMW. Ancora Advisors LLC bought a new stake in shares of Primo Water during the 1st quarter valued at approximately $36,000. Point72 Middle East FZE acquired a new stake in Primo Water during the 4th quarter worth approximately $54,000. Clear Street Markets LLC acquired a new stake in Primo Water during the 4th quarter worth approximately $56,000. Ronald Blue Trust Inc. boosted its position in Primo Water by 44.8% during the 1st quarter. Ronald Blue Trust Inc. now owns 4,287 shares of the company’s stock worth $67,000 after buying an additional 1,326 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in Primo Water by 209.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock worth $90,000 after buying an additional 3,945 shares during the period. 83.87% of the stock is owned by institutional investors.

Primo Water Stock Performance

NYSE PRMW opened at $14.82 on Friday. Primo Water Co. has a 1 year low of $12.27 and a 1 year high of $16.47. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.78 and a quick ratio of 0.62. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.12 and a beta of 1.04. The company has a fifty day moving average price of $14.52 and a 200-day moving average price of $14.13.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, August 10th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Primo Water had a net margin of 3.81% and a return on equity of 7.96%. The firm had revenue of $593.30 million during the quarter, compared to analyst estimates of $586.22 million. As a group, equities research analysts predict that Primo Water Co. will post 0.75 EPS for the current fiscal year.

Primo Water Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Wednesday, August 23rd. Primo Water’s dividend payout ratio (DPR) is currently 59.26%.

Wall Street Analyst Weigh In

PRMW has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Primo Water from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. TD Securities lifted their target price on shares of Primo Water from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Finally, StockNews.com upgraded shares of Primo Water from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.33.

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 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, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.