Hiddenite Capital Partners LP Buys 50,000 Shares of Primo Water Co. (NYSE:PRMW)

Hiddenite Capital Partners LP grew its stake in shares of Primo Water Co. (NYSE:PRMW) by 50.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 150,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. Primo Water comprises about 1.2% of Hiddenite Capital Partners LP’s holdings, making the stock its 17th largest position. Hiddenite Capital Partners LP’s holdings in Primo Water were worth $3,788,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after buying an additional 641 shares in the last quarter. CWM LLC grew its stake in shares of Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares during the period. GAMMA Investing LLC grew its stake in shares of Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after purchasing an additional 981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Primo Water by 3.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock valued at $781,000 after purchasing an additional 1,307 shares during the period. Finally, Creative Planning grew its stake in shares of Primo Water by 8.8% during the 2nd quarter. Creative Planning now owns 17,301 shares of the company’s stock valued at $378,000 after purchasing an additional 1,402 shares during the period. 87.71% of the stock is currently owned by institutional investors.

Primo Water Stock Down 0.9 %

NYSE PRMW opened at $24.21 on Wednesday. The stock’s 50 day moving average is $25.40 and its 200 day moving average is $22.94. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 12 month low of $14.06 and a 12 month high of $28.06. The stock has a market cap of $3.88 billion, a PE ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10.

Primo Water Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s dividend payout ratio is presently 22.36%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRMW. Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Finally, William Blair began coverage on Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.83.

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.