Intact Investment Management Inc. Grows Stock Holdings in Primo Water Co. (NYSE:PRMW)

Intact Investment Management Inc. raised its stake in Primo Water Co. (NYSE:PRMW) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 463,000 shares of the company’s stock after buying an additional 38,000 shares during the period. Intact Investment Management Inc. owned about 0.29% of Primo Water worth $6,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Primo Water in the 3rd quarter worth approximately $841,000. Raymond James & Associates increased its stake in Primo Water by 303.5% during the 3rd quarter. Raymond James & Associates now owns 806,004 shares of the company’s stock valued at $11,123,000 after purchasing an additional 606,256 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Primo Water by 115.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 261,140 shares of the company’s stock valued at $3,604,000 after purchasing an additional 140,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Primo Water by 16.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,437 shares of the company’s stock valued at $475,000 after purchasing an additional 4,754 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Primo Water by 0.7% during the 3rd quarter. Mackenzie Financial Corp now owns 261,154 shares of the company’s stock valued at $3,503,000 after purchasing an additional 1,819 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Raymond James lowered shares of 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. StockNews.com lowered shares of Primo Water from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, TD Securities lowered their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Primo Water Price Performance

Shares of NYSE:PRMW traded up $0.10 during midday trading on Friday, hitting $18.95. The company’s stock had a trading volume of 525,716 shares, compared to its average volume of 877,157. The business’s 50 day simple moving average is $17.38 and its 200 day simple moving average is $15.52. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.92 and a current ratio of 2.03. The company has a market cap of $3.05 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. Primo Water Co. has a 12-month low of $12.27 and a 12-month high of $19.01.

Primo Water (NYSE:PRMW) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a return on equity of 8.55% and a net margin of 10.82%. On average, analysts forecast that Primo Water Co. will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.09 per share. This is a boost from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, March 7th. Primo Water’s dividend payout ratio (DPR) is presently 24.16%.

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.