Shares of Primo Water Co. (NYSE:PRMW – Get Free Report) have been assigned an average recommendation of “Buy” from the four brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $20.75.
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted 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. TD Securities reduced their price target 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. 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 report on Wednesday, April 3rd. Finally, StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Saturday.
Check Out Our Latest Analysis on PRMW
Primo Water Stock Performance
Primo Water (NYSE:PRMW – Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. As a group, research analysts forecast that Primo Water will post 0.82 earnings per share for the current fiscal year.
Primo Water Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio is presently 24.16%.
Institutional Investors Weigh In On Primo Water
A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Primo Water by 2.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,703,385 shares of the company’s stock worth $67,439,000 after buying an additional 100,702 shares during the last quarter. SYSTM Wealth Solutions LLC raised its stake in shares of Primo Water by 26.0% during the first quarter. SYSTM Wealth Solutions LLC now owns 34,076 shares of the company’s stock worth $621,000 after buying an additional 7,041 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Primo Water by 2.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 270,748 shares of the company’s stock worth $4,930,000 after buying an additional 7,728 shares during the last quarter. Raymond James & Associates raised its stake in shares of Primo Water by 10.1% during the first quarter. Raymond James & Associates now owns 1,048,337 shares of the company’s stock worth $19,090,000 after buying an additional 96,367 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares during the last quarter. 87.71% of the stock is owned by institutional investors.
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 essence water, filtration units, and coffee.
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