Primo Water Co. (NYSE:PRMW) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its position in shares of Primo Water Co. (NYSE:PRMW) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 372,565 shares of the company’s stock after selling 17,506 shares during the quarter. River Road Asset Management LLC owned approximately 0.23% of Primo Water worth $9,407,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Primo Water by 0.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock valued at $96,647,000 after purchasing an additional 32,875 shares during the last quarter. Renaissance Technologies LLC raised its stake in Primo Water by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock valued at $34,868,000 after purchasing an additional 49,500 shares during the last quarter. TD Asset Management Inc raised its stake in Primo Water by 27.3% in the 2nd quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock valued at $30,623,000 after purchasing an additional 300,929 shares during the last quarter. Intact Investment Management Inc. raised its stake in Primo Water by 43.6% in the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Primo Water by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company’s stock valued at $29,788,000 after purchasing an additional 53,241 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Ratings Changes

PRMW has been the subject of several analyst reports. William Blair initiated coverage on shares of Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating for the company. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. StockNews.com cut Primo Water from a “buy” rating to a “hold” rating in a report on Sunday, October 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Down 1.2 %

Shares of NYSE:PRMW opened at $25.10 on Wednesday. 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 Co. has a 1 year low of $14.06 and a 1 year high of $28.06. The stock has a market capitalization of $4.02 billion, a P/E ratio of 15.89, a PEG ratio of 1.95 and a beta of 1.10. The stock has a 50-day simple moving average of $25.09 and a 200-day simple moving average of $22.70.

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

Primo Water Announces Dividend

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.82 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 5th. Primo Water’s dividend payout ratio is presently 22.78%.

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.