Marshall Wace LLP grew its holdings in Primo Water Co. (NASDAQ:PRMW) by 56.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,852 shares of the company’s stock after acquiring an additional 58,908 shares during the period. Marshall Wace LLP’s holdings in Primo Water were worth $1,838,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PRMW. First Trust Advisors LP purchased a new position in shares of Primo Water in the 1st quarter valued at $4,509,000. California Public Employees Retirement System raised its stake in shares of Primo Water by 6.0% in the 3rd quarter. California Public Employees Retirement System now owns 63,305 shares of the company’s stock valued at $777,000 after acquiring an additional 3,600 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Primo Water by 176.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,091 shares of the company’s stock valued at $25,000 after acquiring an additional 1,335 shares during the period. State Street Corp raised its stake in shares of Primo Water by 8.2% in the 3rd quarter. State Street Corp now owns 693,555 shares of the company’s stock valued at $8,517,000 after acquiring an additional 52,331 shares during the period. Finally, Boston Partners raised its stake in shares of Primo Water by 104.4% in the 3rd quarter. Boston Partners now owns 4,695 shares of the company’s stock valued at $58,000 after acquiring an additional 2,398 shares during the period. 85.03% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $14.00 price target on shares of Primo Water in a research note on Monday, March 23rd. TD Securities dropped their price target on shares of Primo Water from $19.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday. Imperial Capital reaffirmed an “outperform” rating and set a $14.00 price target (down previously from $15.00) on shares of Primo Water in a research note on Wednesday, December 4th. CIBC downgraded shares of Primo Water from a “sector outperform” rating to a “neutral” rating and set a $22.54 price target on the stock. in a research note on Friday, February 21st. Finally, Barrington Research downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $15.90.
In related news, CEO Thomas Harrington bought 84,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $12.08 per share, with a total value of $1,014,720.00. Following the transaction, the chief executive officer now owns 252,411 shares of the company’s stock, valued at $3,049,124.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 10.80% of the stock is currently owned by insiders.
Primo Water stock opened at $8.77 on Friday. Primo Water Co. has a 12-month low of $6.33 and a 12-month high of $16.00. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 97.46, a price-to-earnings-growth ratio of 4.62 and a beta of 0.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.92 and a quick ratio of 0.70. The firm’s fifty day moving average price is $13.01 and its 200 day moving average price is $13.74.
Primo Water (NASDAQ:PRMW) last released its earnings results on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The company had revenue of $600.20 million during the quarter, compared to the consensus estimate of $602.40 million. Primo Water had a net margin of 1.29% and a return on equity of 7.11%. Analysts forecast that Primo Water Co. will post 0.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Monday, March 9th. Primo Water’s payout ratio is currently 70.59%.
Primo Water Company Profile
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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