Plato Investment Management Ltd Acquires Shares of 15,525 Primo Water Co. (NYSE:PRMW)

Plato Investment Management Ltd bought a new position in shares of Primo Water Co. (NYSE:PRMW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,525 shares of the company’s stock, valued at approximately $392,000.

Several other hedge funds have also recently modified their holdings of the stock. Triasima Portfolio Management inc. acquired a new position in Primo Water during the second quarter worth about $12,732,000. Acadian Asset Management LLC boosted its holdings in shares of Primo Water by 559.2% during the 2nd quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after purchasing an additional 464,232 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Primo Water by 43.6% in the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock valued at $11,287,000 after purchasing an additional 390,611 shares during the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in shares of Primo Water in the first quarter valued at approximately $6,792,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Price Performance

Primo Water stock opened at $24.21 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The company’s 50 day simple moving average is $25.46 and its 200-day simple moving average is $22.96. Primo Water Co. has a 1 year low of $14.06 and a 1 year high of $28.06.

Primo Water Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRMW. William Blair began coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.