Blueshift Asset Management LLC reduced its position in shares of Primo Water Co. (NYSE:PRMW – Get Rating) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,865 shares of the company’s stock after selling 20,045 shares during the quarter. Blueshift Asset Management LLC’s holdings in Primo Water were worth $751,000 as of its most recent SEC filing.
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Other large investors have also modified their holdings of the company. Ancora Advisors LLC bought a new stake in shares of Primo Water during the 1st quarter worth $36,000. US Bancorp DE boosted its position in shares of Primo Water by 76.0% in the third quarter. US Bancorp DE now owns 2,325 shares of the company’s stock worth $29,000 after buying an additional 1,004 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Primo Water in the third quarter worth $59,000. Great West Life Assurance Co. Can acquired a new stake in shares of Primo Water in the third quarter worth $95,000. Finally, Fulton Bank N.A. acquired a new stake in shares of Primo Water in the third quarter worth $154,000. 88.68% of the stock is owned by institutional investors.
Insider Activity
In other news, Director Jeremy S. G. Fowden sold 3,760 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $16.00, for a total value of $60,160.00. Following the sale, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,300,320. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jeremy S. G. Fowden sold 3,760 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $16.00, for a total value of $60,160.00. Following the sale, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,300,320. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeremy S. G. Fowden sold 47,630 shares of Primo Water stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $16.01, for a total value of $762,556.30. Following the sale, the director now directly owns 1,268,770 shares in the company, valued at $20,313,007.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,853 shares of company stock valued at $2,280,980. 4.40% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on PRMW shares. TD Securities raised their target price on Primo Water from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 11th. CIBC cut Primo Water from a “sector outperform” rating to a “neutral” rating in a research report on Friday, February 24th. TheStreet raised Primo Water from a “c” rating to a “b-” rating in a research report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Primo Water from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Primo Water presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.
Primo Water Stock Down 1.4 %
Shares of NYSE:PRMW traded down $0.22 during midday trading on Wednesday, hitting $15.26. 365,628 shares of the stock were exchanged, compared to its average volume of 879,278. Primo Water Co. has a 52-week low of $12.15 and a 52-week high of $16.47. The business’s fifty day simple moving average is $15.63 and its two-hundred day simple moving average is $14.58. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.60 and a current ratio of 0.76. The company has a market capitalization of $2.44 billion, a PE ratio of 81.47 and a beta of 1.07.
Primo Water Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, March 10th will be given a $0.08 dividend. This is an increase from Primo Water’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, March 9th. Primo Water’s dividend payout ratio (DPR) is currently 168.42%.
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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Nursery, Sierra Springs, Sparkletts, Clear Mountain Natural Spring Water, Earth2O, Renü, and Water Event Pure Water Solutions brands in the United States; Canadian Springs and Labrador Source brands in Canada; and Decantae, Eden, Eden Springs, Chateaud’eau, and Mey Eden brands in Europe and Israel.
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