Diversified Trust Co reduced its holdings in shares of Primo Water Co. (NYSE:PRMW – Get Rating) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,550 shares of the company’s stock after selling 789 shares during the period. Diversified Trust Co’s holdings in Primo Water were worth $436,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank increased its holdings in Primo Water by 22.9% during the first quarter. Comerica Bank now owns 46,135 shares of the company’s stock valued at $683,000 after buying an additional 8,600 shares during the last quarter. Strs Ohio increased its holdings in Primo Water by 3.1% during the first quarter. Strs Ohio now owns 77,600 shares of the company’s stock valued at $1,105,000 after buying an additional 2,300 shares during the last quarter. Montag & Caldwell LLC boosted its position in shares of Primo Water by 111.6% in the first quarter. Montag & Caldwell LLC now owns 72,023 shares of the company’s stock worth $1,026,000 after purchasing an additional 37,992 shares during the period. Sasco Capital Inc. CT increased its stake in shares of Primo Water by 67.7% in the first quarter. Sasco Capital Inc. CT now owns 121,836 shares of the company’s stock worth $1,736,000 after purchasing an additional 49,180 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Primo Water by 7.7% during the 4th quarter. Schroder Investment Management Group now owns 2,494,108 shares of the company’s stock valued at $43,971,000 after purchasing an additional 179,191 shares during the period. 86.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. TD Securities increased their price target on Primo Water from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. StockNews.com lowered Primo Water from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.25.
Primo Water Trading Down 1.7 %
Primo Water (NYSE:PRMW – Get Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The firm had revenue of $571.40 million during the quarter, compared to analyst estimates of $549.74 million. Primo Water had a positive return on equity of 6.10% and a negative net margin of 0.64%. Equities research analysts anticipate that Primo Water Co. will post 0.64 EPS for the current fiscal year.
Primo Water Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.15%. Primo Water’s payout ratio is -311.08%.
Primo Water Company 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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