Wellington Management Group LLP Takes $33.14 Million Position in Primo Water Co. (NYSE:PRMW)

Wellington Management Group LLP bought a new stake in Primo Water Co. (NYSE:PRMWFree Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,401,051 shares of the company’s stock, valued at approximately $33,135,000. Wellington Management Group LLP owned 1.49% of Primo Water at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ancora Advisors LLC acquired a new stake in shares of Primo Water in the 1st quarter valued at about $36,000. PNC Financial Services Group Inc. lifted its position in Primo Water by 26.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company’s stock valued at $52,000 after acquiring an additional 853 shares in the last quarter. Point72 Middle East FZE bought a new position in Primo Water in the 4th quarter valued at about $54,000. Advisor Group Holdings Inc. lifted its position in Primo Water by 209.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock valued at $90,000 after acquiring an additional 3,945 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. bought a new position in Primo Water in the 3rd quarter valued at about $102,000. 83.87% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Price Performance

Primo Water stock opened at $18.23 on Friday. Primo Water Co. has a 52 week low of $12.27 and a 52 week high of $18.31. The company’s 50 day moving average price is $15.52 and its two-hundred day moving average price is $14.80. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The stock has a market cap of $2.93 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.68 and a beta of 1.11.

Primo Water (NYSE:PRMWGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 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 return on equity of 8.55% and a net margin of 10.82%. On average, equities analysts predict that Primo Water Co. will post 0.82 earnings per share for the current year.

Primo Water Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Friday, March 8th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 7th. This is a boost from Primo Water’s previous quarterly dividend of $0.08. Primo Water’s payout ratio is 24.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. TheStreet raised shares of Primo Water from a “c+” rating to a “b-” rating in a research report on Monday, December 4th. TD Securities dropped their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Finally, StockNews.com cut shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 18th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.67.

Check Out Our Latest Stock Analysis on PRMW

Primo Water Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Primo Water (NYSE:PRMW)

Receive News & Ratings for Primo Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primo Water and related companies with MarketBeat.com's FREE daily email newsletter.