Raymond James Financial Services Advisors Inc. Boosts Stake in Primo Water Co. (NYSE:PRMW)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Primo Water Co. (NYSE:PRMWGet Rating) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,068 shares of the company’s stock after acquiring an additional 13,967 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.10% of Primo Water worth $2,072,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PRMW. MetLife Investment Management LLC lifted its stake in Primo Water by 66.7% in the 1st quarter. MetLife Investment Management LLC now owns 84,056 shares of the company’s stock valued at $1,198,000 after buying an additional 33,637 shares in the last quarter. BlackRock Inc. lifted its stake in Primo Water by 0.6% in the 1st quarter. BlackRock Inc. now owns 7,991,282 shares of the company’s stock valued at $113,877,000 after buying an additional 48,820 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Primo Water by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 978,452 shares of the company’s stock valued at $13,943,000 after buying an additional 39,817 shares in the last quarter. Vanguard Group Inc. lifted its stake in Primo Water by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,471,388 shares of the company’s stock valued at $149,217,000 after buying an additional 280,207 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Primo Water by 374.8% in the 1st quarter. Mackenzie Financial Corp now owns 293,554 shares of the company’s stock valued at $4,186,000 after buying an additional 231,727 shares in the last quarter. 88.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Primo Water

In related news, Director Jeremy S. G. Fowden sold 3,760 shares of Primo Water stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $16.00, for a total value of $60,160.00. Following the completion of the sale, the director now owns 1,268,770 shares in the company, valued at approximately $20,300,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jeremy S. G. Fowden sold 90,463 shares of Primo Water stock in a transaction that occurred on 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 in the company, valued at approximately $20,452,572.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeremy S. G. Fowden sold 3,760 shares of Primo Water 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 disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Primo Water Stock Down 1.4 %

Shares of NYSE PRMW opened at $15.34 on Wednesday. The company has a 50 day simple moving average of $15.25 and a 200-day simple moving average of $14.15. The company has a market capitalization of $2.45 billion, a P/E ratio of -81.53 and a beta of 1.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.76 and a quick ratio of 0.60. Primo Water Co. has a 1 year low of $12.15 and a 1 year high of $17.57.

Primo Water (NYSE:PRMWGet Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $584.60 million for 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%. On average, equities research analysts predict that Primo Water Co. will post 0.63 earnings per share for the current year.

Primo Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, November 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.83%. Primo Water’s dividend payout ratio is currently -147.37%.

Analysts Set New Price Targets

PRMW has been the topic of a number of research reports. TD Securities raised their price target on shares of Primo Water from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, November 11th. StockNews.com assumed coverage on shares of Primo Water in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Primo Water from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 8th.

Primo Water Company Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Primo Water (NYSE:PRMW)

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