Marshall Wace LLP Has $4.94 Million Holdings in Primo Water Co. (NYSE:PRMW)

Marshall Wace LLP trimmed its holdings in Primo Water Co. (NYSE:PRMW – Get Rating) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 393,794 shares of the company’s stock after selling 103,702 shares during the period. Marshall Wace LLP owned about 0.24% of Primo Water worth $4,944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PRMW. Martingale Asset Management L P increased its stake in Primo Water by 18.1% during the 3rd quarter. Martingale Asset Management L P now owns 130,521 shares of the company’s stock worth $1,639,000 after purchasing an additional 19,975 shares in the last quarter. First Trust Advisors LP increased its position in shares of Primo Water by 11.3% during the third quarter. First Trust Advisors LP now owns 1,898,021 shares of the company’s stock worth $23,820,000 after acquiring an additional 192,031 shares in the last quarter. Financial Advocates Investment Management acquired a new stake in shares of Primo Water during the third quarter worth $611,000. Bank of New York Mellon Corp lifted its position in Primo Water by 4.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 491,832 shares of the company’s stock valued at $6,172,000 after acquiring an additional 20,650 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Primo Water by 24.7% in the 3rd quarter. BlackRock Inc. now owns 11,600,023 shares of the company’s stock worth $145,580,000 after purchasing an additional 2,296,515 shares during the period. Institutional investors and hedge funds own 88.68% of the company’s stock.

Primo Water Trading Down 0.7 %

Primo Water stock opened at $14.48 on Tuesday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 76.21 and a beta of 1.05. The firm has a 50-day moving average of $15.54 and a 200-day moving average of $14.73. 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 one year low of $12.15 and a one year high of $16.47.

Primo Water Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 10th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, March 9th. This is a boost from Primo Water’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 2.21%. Primo Water’s dividend payout ratio is 168.42%.

Analyst Ratings Changes

Several analysts have issued reports on PRMW shares. TheStreet raised Primo Water from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd. CIBC cut Primo Water from a “sector outperform” rating to a “neutral” rating in a research note on Friday, February 24th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Primo Water currently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Insiders Place Their Bets

In other news, Director Jeremy S. G. Fowden sold 47,630 shares of the stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $16.01, for a total value of $762,556.30. Following the completion of the sale, the director now owns 1,268,770 shares of the company’s stock, valued at approximately $20,313,007.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Primo Water 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 stock was sold at an average price of $16.00, for a total transaction of $60,160.00. Following the transaction, the director now owns 1,268,770 shares of the company’s stock, valued at $20,300,320. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeremy S. G. Fowden sold 47,630 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $16.01, for a total value of $762,556.30. Following the completion of the sale, the director now owns 1,268,770 shares in the company, valued at approximately $20,313,007.70. The disclosure for this sale can be found here. Insiders have sold 141,853 shares of company stock valued at $2,280,980 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Primo Water 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.