Primo Water (NYSE:PRMW) Trading Down 7% – Time to Sell?

Primo Water Co. (NYSE:PRMW) shares traded down 7% during trading on Thursday . The company traded as low as $21.60 and last traded at $23.72. 652,038 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,242,891 shares. The stock had previously closed at $25.50.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. William Blair started coverage on shares of Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Finally, StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Stock Down 0.9 %

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 company has a market cap of $3.88 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.93 and a beta of 1.10. The stock’s 50-day moving average is $25.32 and its 200-day moving average is $22.81.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million during the quarter, compared to the consensus estimate of $477.40 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.82 per share. This represents a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s payout ratio is 22.78%.

Hedge Funds Weigh In On Primo Water

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. increased its stake in shares of Primo Water by 108.7% during the 1st 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. Jane Street Group LLC grew its position 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 in the last quarter. Strategic Wealth Partners Ltd. purchased a new stake in shares of Primo Water in the first quarter worth about $879,000. Intact Investment Management Inc. grew its stake in Primo Water by 43.6% during the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after acquiring an additional 419,370 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Primo Water by 471.2% during the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after acquiring an additional 54,569 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

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.