Fulton Bank N.A. Boosts Stake in Primo Water Co. (NYSE:PRMW)

Fulton Bank N.A. grew its holdings in Primo Water Co. (NYSE:PRMW) by 9.0% in the second quarter, Holdings Channel reports. The institutional investor owned 19,424 shares of the company’s stock after acquiring an additional 1,609 shares during the quarter. Fulton Bank N.A.’s holdings in Primo Water were worth $425,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. acquired a new position in Primo Water in the 1st quarter valued at $879,000. Tidal Investments LLC grew its position in Primo Water by 471.2% in the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock worth $1,205,000 after acquiring an additional 54,569 shares during the period. Jane Street Group LLC boosted its stake in Primo Water by 170.4% during the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after buying an additional 390,611 shares during the period. Levin Capital Strategies L.P. raised its position in Primo Water by 3.1% in the first quarter. Levin Capital Strategies L.P. now owns 203,119 shares of the company’s stock valued at $3,699,000 after purchasing an additional 6,159 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Primo Water during the 1st quarter worth about $235,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analysts Set New Price Targets

PRMW has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, May 10th. CIBC lifted their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, June 18th. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Primo Water has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Stock Up 0.2 %

Shares of Primo Water stock traded up $0.04 during trading hours on Wednesday, hitting $21.88. The company had a trading volume of 461,139 shares, compared to its average volume of 1,202,908. The company’s 50-day moving average is $21.77 and its two-hundred day moving average is $19.12. Primo Water Co. has a twelve month low of $12.92 and a twelve month high of $25.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The company has a market cap of $3.52 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, June 7th. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Primo Water Profile

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.