Russell Investments Group Ltd. boosted its holdings in Primo Water Co. (NASDAQ:PRMW) by 11.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,633 shares of the company’s stock after purchasing an additional 8,664 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Primo Water worth $1,473,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Martingale Asset Management L P purchased a new position in Primo Water during the 2nd quarter worth $186,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Primo Water during the 2nd quarter worth $198,000. Bank of Montreal Can boosted its holdings in Primo Water by 5,864.6% during the 2nd quarter. Bank of Montreal Can now owns 11,452 shares of the company’s stock worth $200,000 after acquiring an additional 11,260 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in Primo Water during the 2nd quarter worth $208,000. Finally, Paloma Partners Management Co purchased a new position in Primo Water during the 2nd quarter worth $214,000. 75.84% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Primo Water from a “hold” rating to a “sell” rating in a report on Friday. BidaskClub raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. B. Riley lowered their target price on Primo Water from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, November 7th. ValuEngine cut Primo Water from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, Barrington Research reiterated a “buy” rating and set a $21.00 target price on shares of Primo Water in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $19.20.
NASDAQ PRMW opened at $13.53 on Friday. The firm has a market cap of $539.49 million, a PE ratio of 56.00, a price-to-earnings-growth ratio of 3.65 and a beta of 0.49. Primo Water Co. has a one year low of $11.16 and a one year high of $20.72. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.94.
Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 6th. The company reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.26 million. Primo Water had a positive return on equity of 10.31% and a negative net margin of 17.88%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. As a group, sell-side analysts forecast that Primo Water Co. will post 0.32 EPS for the current fiscal year.
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Primo Water Company Profile
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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