Raymond James & Associates Sells 30,336 Shares of Primo Water Co. (NYSE:PRMW)

Raymond James & Associates trimmed its stake in shares of Primo Water Co. (NYSE:PRMWGet Rating) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,667 shares of the company’s stock after selling 30,336 shares during the quarter. Raymond James & Associates owned approximately 0.14% of Primo Water worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PRMW. Goldman Sachs Group Inc. grew its position in Primo Water by 9.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,581,085 shares of the company’s stock worth $165,030,000 after acquiring an additional 1,031,066 shares during the last quarter. Renaissance Technologies LLC grew its position in Primo Water by 85.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,678,042 shares of the company’s stock worth $23,913,000 after acquiring an additional 772,300 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Primo Water by 1,274.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 807,814 shares of the company’s stock worth $10,809,000 after acquiring an additional 749,028 shares during the last quarter. EVR Research LP grew its position in Primo Water by 267.5% during the 1st quarter. EVR Research LP now owns 735,000 shares of the company’s stock worth $10,474,000 after acquiring an additional 535,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Primo Water during the 1st quarter worth approximately $6,779,000. 88.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Primo Water news, Director Jeremy S. G. Fowden sold 90,463 shares of the business’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $16.12, for a total value of $1,458,263.56. Following the sale, the director now directly owns 1,268,770 shares of the company’s stock, valued at $20,452,572.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jeremy S. G. Fowden sold 3,760 shares of the business’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 value of $60,160.00. Following the completion of the transaction, the director now directly owns 1,268,770 shares in the company, valued at approximately $20,300,320. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeremy S. G. Fowden sold 90,463 shares of the stock in a transaction 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 sale, the director now owns 1,268,770 shares in the company, valued at $20,452,572.40. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

Primo Water Stock Performance

PRMW opened at $14.75 on Friday. The stock has a market cap of $2.36 billion, a PE ratio of -77.63 and a beta of 1.08. The company has a quick ratio of 0.60, a current ratio of 0.76 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $15.34 and a 200-day moving average of $14.17. Primo Water Co. has a 52 week low of $12.15 and a 52 week high of $17.54.

Primo Water (NYSE:PRMWGet Rating) last released its earnings results on Thursday, November 10th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $584.60 million during the quarter, compared to analysts’ expectations of $582.38 million. Primo Water had a negative net margin of 1.40% and a positive return on equity of 6.15%. Equities research analysts predict that Primo Water Co. will post 0.63 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 29th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, November 28th. Primo Water’s payout ratio is presently -147.37%.

Analysts Set New Price Targets

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

Primo Water Company Profile

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

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