Primo Water Co. (NYSE:PRMW) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its stake in Primo Water Co. (NYSE:PRMW) by 25.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,976 shares of the company’s stock after selling 7,161 shares during the quarter. ProShare Advisors LLC’s holdings in Primo Water were worth $459,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRMW. CWM LLC boosted its position in Primo Water by 36.0% during the first quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after acquiring an additional 631 shares during the last quarter. Tobam boosted its position in Primo Water by 4.4% during the first quarter. Tobam now owns 16,780 shares of the company’s stock worth $306,000 after acquiring an additional 705 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Primo Water by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock worth $781,000 after acquiring an additional 1,307 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in Primo Water during the first quarter worth about $27,000. Finally, Fulton Bank N.A. boosted its position in Primo Water by 9.0% during the second quarter. Fulton Bank N.A. now owns 19,424 shares of the company’s stock worth $425,000 after acquiring an additional 1,609 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. CIBC boosted their price target on shares of Primo Water from $24.00 to $26.00 and gave the stock an “outperformer” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday. TD Securities boosted their target price on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, StockNews.com upgraded shares of Primo Water from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Price Performance

Primo Water stock opened at $24.94 on Wednesday. The company’s 50 day simple moving average is $22.85 and its 200-day simple moving average is $21.26. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $25.67. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18.

Primo Water (NYSE:PRMW) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.44%. The ex-dividend date was Thursday, August 22nd. Primo Water’s payout ratio is currently 22.36%.

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 essence water, filtration units, and coffee.