Primo Water Co. (NYSE:PRMW) Director Jeremy S. G. Fowden sold 27,016 shares of the business’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $16.91, for a total transaction of $456,840.56. Following the completion of the sale, the director now directly owns 1,352,358 shares of the company’s stock, valued at approximately $22,868,373.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
NYSE PRMW opened at $16.59 on Thursday. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -26.33 and a beta of 1.32. Primo Water Co. has a twelve month low of $8.81 and a twelve month high of $17.85. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 0.96. The business’s fifty day moving average is $15.89 and its 200 day moving average is $15.79.
Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, February 25th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.07). The company had revenue of $505.00 million for the quarter, compared to analyst estimates of $490.49 million. Primo Water had a positive return on equity of 3.49% and a negative net margin of 5.00%. On average, research analysts anticipate that Primo Water Co. will post 0.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 29th. Investors of record on Friday, March 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 11th.
A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Primo Water by 20.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,172,716 shares of the company’s stock worth $128,149,000 after purchasing an additional 1,381,205 shares during the last quarter. Praesidium Investment Management Company LLC increased its position in shares of Primo Water by 9.5% during the fourth quarter. Praesidium Investment Management Company LLC now owns 7,974,711 shares of the company’s stock worth $125,043,000 after buying an additional 694,957 shares during the period. BlackRock Inc. raised its stake in Primo Water by 6.1% during the fourth quarter. BlackRock Inc. now owns 7,837,561 shares of the company’s stock worth $122,893,000 after buying an additional 453,318 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Primo Water by 2.2% in the fourth quarter. Wells Fargo & Company MN now owns 3,500,619 shares of the company’s stock valued at $54,889,000 after buying an additional 75,288 shares during the period. Finally, State Street Corp boosted its position in Primo Water by 0.3% during the third quarter. State Street Corp now owns 2,604,960 shares of the company’s stock valued at $36,990,000 after acquiring an additional 8,523 shares during the last quarter. 88.74% of the stock is owned by institutional investors and hedge funds.
PRMW has been the subject of several recent research reports. Canaccord Genuity boosted their price target on Primo Water from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, February 17th. Zacks Investment Research cut shares of Primo Water from a “hold” rating to a “strong sell” rating in a research report on Friday, March 5th. Scotiabank upgraded shares of Primo Water from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $17.00 to $18.50 in a research report on Monday, March 15th. Raymond James raised shares of Primo Water from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $18.00 to $21.00 in a research note on Friday, January 8th. Finally, TD Securities decreased their price target on Primo Water from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, February 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $17.38.
About Primo Water
Primo Water Corporation provides home and office bottled water delivery and water filtration services in North America and Europe. It offers water dispensers, purified bottled water, and self-service refill drinking water; and coffee and tea, and sparkling water beverages from Sparkling Ice, as well as other premium water products.
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