Primo Water Co. (NYSE:PRMW) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS grew its holdings in Primo Water Co. (NYSE:PRMW) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,600 shares of the company’s stock after buying an additional 16,100 shares during the period. Kornitzer Capital Management Inc. KS owned 0.06% of Primo Water worth $1,333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Primo Water by 4.5% in the third quarter. Vanguard Group Inc. now owns 11,910,887 shares of the company’s stock valued at $164,370,000 after purchasing an additional 508,251 shares during the period. BlackRock Inc. grew its holdings in shares of Primo Water by 24.7% in the third quarter. BlackRock Inc. now owns 11,600,023 shares of the company’s stock valued at $145,580,000 after purchasing an additional 2,296,515 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Primo Water by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 11,581,085 shares of the company’s stock valued at $165,030,000 after purchasing an additional 1,031,066 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Primo Water by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company’s stock valued at $101,464,000 after purchasing an additional 116,453 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Primo Water by 11.4% in the first quarter. Thrivent Financial for Lutherans now owns 4,420,429 shares of the company’s stock valued at $67,854,000 after purchasing an additional 453,209 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Trading Up 1.7 %

Shares of PRMW stock opened at $18.43 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. The firm has a market cap of $2.96 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. The company has a 50-day moving average of $17.00 and a two-hundred day moving average of $15.36. Primo Water Co. has a 1-year low of $12.27 and a 1-year high of $18.49.

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

Primo Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.09 dividend. This is a positive change from Primo Water’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.36 annualized dividend and a dividend yield of 1.95%. Primo Water’s dividend payout ratio (DPR) is presently 24.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. TD Securities dropped their price objective on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research note on Wednesday, April 3rd. StockNews.com lowered shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 18th. Finally, JPMorgan Chase & Co. increased their target price 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $20.75.

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.