CIBC Asset Management Inc Acquires 4,411 Shares of Primo Water Co. (NYSE:PRMW)

CIBC Asset Management Inc raised its holdings in Primo Water Co. (NYSE:PRMWFree Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 157,462 shares of the company’s stock after acquiring an additional 4,411 shares during the quarter. CIBC Asset Management Inc owned about 0.10% of Primo Water worth $2,380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Primo Water by 358.1% in the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after acquiring an additional 1,848 shares during the last quarter. Aigen Investment Management LP bought a new position in Primo Water in the third quarter valued at approximately $139,000. Raymond James Trust N.A. raised its holdings in Primo Water by 32.5% in the fourth quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock worth $231,000 after purchasing an additional 3,759 shares during the period. First Hawaiian Bank acquired a new stake in Primo Water in the fourth quarter worth $233,000. Finally, Fulton Bank N.A. raised its holdings in Primo Water by 10.2% in the fourth quarter. Fulton Bank N.A. now owns 20,290 shares of the company’s stock worth $305,000 after purchasing an additional 1,870 shares during the period. 87.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRMW shares. Royal Bank of Canada increased their target price on shares of Primo Water from $19.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on shares of Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Primo Water currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Get Our Latest Research Report on PRMW

Primo Water Stock Performance

Shares of PRMW opened at $22.92 on Friday. The firm has a 50-day moving average of $20.11 and a 200-day moving average of $17.09. Primo Water Co. has a one year low of $12.27 and a one year high of $23.11. The company has a market cap of $3.67 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02.

Primo Water (NYSE:PRMWGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. The company had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. As a group, equities analysts forecast that Primo Water Co. will post 0.89 earnings per share for the current year.

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, June 7th. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

About Primo Water

(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.

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

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