Easterly Investment Partners LLC cut its holdings in Primo Water Co. (NYSE:PRMW – Get Rating) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 973,530 shares of the company’s stock after selling 169,450 shares during the quarter. Primo Water comprises 1.2% of Easterly Investment Partners LLC’s holdings, making the stock its 29th biggest position. Easterly Investment Partners LLC owned approximately 0.61% of Primo Water worth $12,218,000 as of its most recent SEC filing.
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A number of other large investors have also recently bought and sold shares of PRMW. US Bancorp DE boosted its position 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 acquiring an additional 1,004 shares during the last quarter. Ancora Advisors LLC acquired a new position in Primo Water during the 1st quarter worth approximately $36,000. Great West Life Assurance Co. Can acquired a new position in Primo Water during the 3rd quarter worth approximately $95,000. Fulton Bank N.A. acquired a new stake in shares of Primo Water in the 3rd quarter valued at approximately $154,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Primo Water in the 1st quarter valued at approximately $177,000. Institutional investors and hedge funds own 88.68% of the company’s stock.
Insider Buying and Selling at Primo Water
In other Primo Water news, Director Jeremy S. G. Fowden sold 90,463 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $16.12, for a total value of $1,458,263.56. Following the completion of the sale, the director now owns 1,268,770 shares of the company’s stock, valued at approximately $20,452,572.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeremy S. G. Fowden sold 3,760 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 1,268,770 shares of the company’s stock, valued at approximately $20,300,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeremy S. G. Fowden sold 90,463 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $16.12, for a total transaction of $1,458,263.56. Following the sale, the director now directly owns 1,268,770 shares of the company’s stock, valued at approximately $20,452,572.40. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.
Primo Water Stock Down 0.8 %
PRMW opened at $15.58 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.60 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $15.50 and its 200 day simple moving average is $14.33. Primo Water Co. has a 1-year low of $12.15 and a 1-year high of $16.53. The stock has a market cap of $2.49 billion, a PE ratio of -82.00 and a beta of 1.07.
Primo Water (NYSE:PRMW – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $584.60 million during the quarter, compared to analyst estimates of $582.38 million. Primo Water had a positive return on equity of 6.15% and a negative net margin of 1.40%. As a group, research analysts expect that Primo Water Co. will post 0.63 earnings per share for the current year.
Primo Water Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 29th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Monday, November 28th. Primo Water’s dividend payout ratio is currently -147.37%.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. 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. StockNews.com assumed coverage on Primo Water in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, TD Securities increased their price objective on Primo Water from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, November 11th.
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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