Hiddenite Capital Partners LP Acquires 50,000 Shares of Primo Water Co. (NYSE:PRMW)

Hiddenite Capital Partners LP raised its holdings in shares of Primo Water Co. (NYSE:PRMW) by 50.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Primo Water comprises approximately 1.2% of Hiddenite Capital Partners LP’s portfolio, making the stock its 17th biggest holding. Hiddenite Capital Partners LP owned about 0.09% of Primo Water worth $3,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of Primo Water by 8.5% in the first quarter. ProShare Advisors LLC now owns 28,137 shares of the company’s stock worth $512,000 after purchasing an additional 2,215 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Primo Water by 108.7% in the first quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company’s stock worth $1,748,000 after purchasing an additional 50,000 shares during the last quarter. Forge First Asset Management Inc. bought a new position in shares of Primo Water in the first quarter worth approximately $6,792,000. Acadian Asset Management LLC grew its holdings in shares of Primo Water by 153,637.0% in the first quarter. Acadian Asset Management LLC now owns 83,018 shares of the company’s stock worth $1,509,000 after purchasing an additional 82,964 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Primo Water by 1.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 148,209 shares of the company’s stock worth $2,699,000 after purchasing an additional 2,794 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

Primo Water Stock Performance

Shares of Primo Water stock opened at $24.21 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The business has a fifty day simple moving average of $25.40 and a two-hundred day simple moving average of $22.94. Primo Water Co. has a 12 month low of $14.06 and a 12 month high of $28.06.

Primo Water Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio is currently 22.36%.

Analyst Upgrades and Downgrades

PRMW has been the topic of several recent analyst reports. StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Finally, William Blair initiated coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

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.