Pendal Group Ltd decreased its position in shares of Primo Water Co. (NYSE:PRMW – Get Rating) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,423 shares of the company’s stock after selling 38,431 shares during the quarter. Pendal Group Ltd owned about 0.15% of Primo Water worth $3,782,000 as of its most recent SEC filing.
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Several other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE raised its holdings in Primo Water by 76.0% during the 3rd 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. Ancora Advisors LLC acquired a new stake in Primo Water during the 1st quarter worth approximately $36,000. Ronald Blue Trust Inc. raised its holdings in Primo Water by 77.3% during the 4th quarter. Ronald Blue Trust Inc. now owns 2,961 shares of the company’s stock worth $37,000 after buying an additional 1,291 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Primo Water during the 3rd quarter worth approximately $59,000. Finally, Great West Life Assurance Co. Can acquired a new stake in Primo Water during the 3rd quarter worth approximately $95,000. Institutional investors own 88.68% of the company’s stock.
Primo Water Price Performance
NYSE PRMW opened at $14.58 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.76 and a debt-to-equity ratio of 0.98. Primo Water Co. has a 12-month low of $12.15 and a 12-month high of $16.47. The company has a market capitalization of $2.33 billion, a PE ratio of 76.74 and a beta of 1.05. The firm’s 50 day moving average is $15.31 and its 200-day moving average is $14.83.
Primo Water Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 27th. Investors of record on Friday, March 10th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.19%. This is an increase from Primo Water’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 9th. Primo Water’s payout ratio is presently 168.42%.
Insider Buying and Selling
In related news, Director Jeremy S. G. Fowden sold 3,760 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $16.00, for a total transaction of $60,160.00. Following the transaction, the director now directly owns 1,268,770 shares in the company, valued at $20,300,320. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Jeremy S. G. Fowden sold 3,760 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $16.00, for a total transaction of $60,160.00. Following the transaction, the director now directly owns 1,268,770 shares in the company, valued at $20,300,320. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeremy S. G. Fowden sold 47,630 shares of the business’s stock in a transaction on Wednesday, February 8th. The stock was sold at an average price of $16.01, for a total transaction of $762,556.30. Following the transaction, the director now 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 three months, insiders have sold 141,853 shares of company stock worth $2,280,980. Insiders own 4.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on PRMW. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Primo Water from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, March 20th. CIBC downgraded shares of Primo Water from a “sector outperform” rating to a “neutral” rating in a report on Friday, February 24th. Finally, TheStreet downgraded shares of Primo Water from a “b-” rating to a “c+” rating in a report on Friday, March 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.33.
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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