Royce & Associates LP Invests $4.22 Million in Primo Water Co. (NYSE:PRMW)

Royce & Associates LP purchased a new stake in shares of Primo Water Co. (NYSE:PRMW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 167,116 shares of the company’s stock, valued at approximately $4,220,000. Royce & Associates LP owned about 0.10% of Primo Water at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PRMW. Plato Investment Management Ltd purchased a new stake in shares of Primo Water during the 3rd quarter valued at $392,000. Hiddenite Capital Partners LP increased its holdings in Primo Water by 50.0% during the third quarter. Hiddenite Capital Partners LP now owns 150,000 shares of the company’s stock worth $3,788,000 after buying an additional 50,000 shares during the last quarter. Aigen Investment Management LP raised its position in Primo Water by 11.3% in the third quarter. Aigen Investment Management LP now owns 20,328 shares of the company’s stock worth $513,000 after acquiring an additional 2,063 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new position in Primo Water in the third quarter valued at about $252,000. Finally, Principal Financial Group Inc. grew its position in shares of Primo Water by 311.6% during the 3rd quarter. Principal Financial Group Inc. now owns 66,664 shares of the company’s stock valued at $1,683,000 after acquiring an additional 50,468 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRMW has been the topic of several research analyst reports. William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating on the stock. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Finally, Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Primo Water has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Down 0.9 %

Shares of NYSE PRMW opened at $24.21 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The company has a market cap 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. Primo Water Co. has a 52 week low of $14.06 and a 52 week high of $28.06. The business has a 50-day simple moving average of $25.49 and a two-hundred day simple moving average of $23.09.

Primo Water Dividend Announcement

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 of this dividend is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio (DPR) is currently 22.36%.

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.