Cinctive Capital Management LP Has $18.04 Million Position in Primo Water Co. (NYSE:PRMW)

Cinctive Capital Management LP grew its holdings in shares of Primo Water Co. (NYSE:PRMW) by 219.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 714,389 shares of the company’s stock after purchasing an additional 490,486 shares during the period. Primo Water comprises approximately 1.0% of Cinctive Capital Management LP’s holdings, making the stock its 18th largest holding. Cinctive Capital Management LP’s holdings in Primo Water were worth $18,038,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Primo Water by 375.9% during the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after buying an additional 981 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Primo Water by 52.1% during the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Primo Water in the 3rd quarter valued at about $48,000. CWM LLC raised its holdings in shares of Primo Water by 31.5% in 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. Finally, Clearstead Trust LLC acquired a new stake in Primo Water in the 2nd quarter valued at about $109,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Primo Water Trading Down 0.9 %

Shares of Primo Water stock opened at $24.21 on Monday. Primo Water Co. has a 52-week low of $14.06 and a 52-week high of $28.06. The stock 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 firm has a 50-day moving average of $25.46 and a 200-day moving average of $23.31. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Water Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on PRMW shares. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. StockNews.com assumed coverage on Primo Water in a report on Monday. They set a “buy” rating for the company. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, William Blair started coverage on shares of Primo Water in a research report on Thursday, October 24th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.