Cinctive Capital Management LP Purchases 490,486 Shares of Primo Water Co. (NYSE:PRMW)

Cinctive Capital Management LP increased its position in Primo Water Co. (NYSE:PRMW) by 219.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 714,389 shares of the company’s stock after purchasing an additional 490,486 shares during the quarter. Primo Water makes up 1.0% of Cinctive Capital Management LP’s portfolio, making the stock its 18th biggest position. Cinctive Capital Management LP owned 0.45% of Primo Water worth $18,038,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PRMW. Price T Rowe Associates Inc. MD boosted its stake in Primo Water by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,766 shares of the company’s stock valued at $816,000 after acquiring an additional 5,670 shares during the last quarter. Jane Street Group LLC increased its holdings in 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 during the last quarter. Tidal Investments LLC lifted its stake in Primo Water by 471.2% in the first quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after buying an additional 54,569 shares during the period. Fulton Bank N.A. boosted its holdings in Primo Water by 9.0% during the second quarter. Fulton Bank N.A. now owns 19,424 shares of the company’s stock worth $425,000 after buying an additional 1,609 shares during the last quarter. Finally, New Millennium Group LLC acquired a new position in shares of Primo Water during the 2nd quarter worth about $1,686,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRMW has been the topic of a number of analyst reports. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday, October 1st. William Blair initiated coverage on shares of Primo Water in a research report on Thursday, October 24th. They issued an “outperform” rating for the company. Finally, StockNews.com began coverage on Primo Water in a report on Monday. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Price Performance

Shares of NYSE PRMW opened at $24.21 on Monday. The company has a fifty day moving average price of $25.46 and a 200 day moving average price of $23.31. Primo Water Co. has a 1-year low of $14.06 and a 1-year high of $28.06. The firm has a market cap of $3.88 billion, a PE ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. 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 Dividend Announcement

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

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.