O Shaughnessy Asset Management LLC Has $2.70 Million Stake in Primo Water Co. (NYSE:PRMW)

O Shaughnessy Asset Management LLC grew its holdings in Primo Water Co. (NYSE:PRMW) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,209 shares of the company’s stock after buying an additional 2,794 shares during the period. O Shaughnessy Asset Management LLC owned 0.09% of Primo Water worth $2,699,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Signaturefd LLC increased its stake in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after purchasing an additional 1,848 shares during the period. CWM LLC increased 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 purchasing an additional 631 shares during the period. Raymond James Trust N.A. increased its stake in shares of Primo Water by 32.5% during the fourth quarter. Raymond James Trust N.A. now owns 15,332 shares of the company’s stock worth $231,000 after purchasing an additional 3,759 shares during the period. Aigen Investment Management LP increased its stake in shares of Primo Water by 89.8% during the fourth quarter. Aigen Investment Management LP now owns 19,047 shares of the company’s stock worth $287,000 after purchasing an additional 9,010 shares during the period. Finally, Tobam increased its stake in shares of Primo Water by 4.4% during the first quarter. Tobam now owns 16,780 shares of the company’s stock worth $306,000 after purchasing an additional 705 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on PRMW shares. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday, June 18th. JPMorgan Chase & Co. raised their price objective on Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 18th. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective on the stock. in a research note on Wednesday, April 3rd. Finally, TD Securities raised their price objective on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Primo Water has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Trading Up 0.3 %

PRMW traded up $0.06 during midday trading on Wednesday, hitting $21.07. 1,370,467 shares of the company were exchanged, compared to its average volume of 1,210,271. The firm has a market capitalization of $3.39 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.52 and a beta of 1.10. Primo Water Co. has a 1-year low of $12.92 and a 1-year high of $25.60. The firm’s 50 day moving average price is $21.83 and its 200-day moving average price is $18.62. The company has a quick ratio of 2.02, a current ratio of 2.13 and a debt-to-equity ratio of 0.87.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, May 9th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.13 by $0.05. The firm had revenue of $452.00 million for the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. As a group, equities analysts forecast that Primo Water Co. will post 0.89 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, June 7th. Primo Water’s payout ratio is presently 22.36%.

Primo Water Company 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.