Primo Water Co. (NYSE:PRMW) Shares Sold by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD trimmed its holdings in Primo Water Co. (NYSE:PRMW) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 374,001 shares of the company’s stock after selling 1,209 shares during the period. Primo Water accounts for about 2.7% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 12th largest position. Corbyn Investment Management Inc. MD owned about 0.23% of Primo Water worth $5,629,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PRMW. Raymond James & Associates boosted its stake in shares of Primo Water by 18.1% during the fourth quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock valued at $14,327,000 after acquiring an additional 145,966 shares during the last quarter. Ancora Advisors LLC boosted its position in Primo Water by 2.0% during the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock worth $8,442,000 after acquiring an additional 11,920 shares during the last quarter. Walleye Capital LLC grew its stake in Primo Water by 761.6% in the 3rd quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock worth $1,532,000 after acquiring an additional 98,144 shares during the period. William Blair Investment Management LLC raised its holdings in Primo Water by 10.8% in the 3rd quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after acquiring an additional 265,057 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Primo Water by 49.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock worth $4,310,000 after purchasing an additional 103,103 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRMW has been the topic of a number of research analyst reports. StockNews.com lowered Primo Water from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 18th. TD Securities decreased their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. JPMorgan Chase & Co. upped their price target on shares of Primo Water from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Finally, Raymond James downgraded shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $20.75.

Primo Water Trading Up 0.4 %

PRMW stock traded up $0.08 during midday trading on Friday, reaching $18.93. 211,232 shares of the company’s stock traded hands, compared to its average volume of 1,001,794. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.03 and a quick ratio of 1.92. Primo Water Co. has a fifty-two week low of $12.27 and a fifty-two week high of $19.01. The business has a 50-day moving average price of $17.31 and a two-hundred day moving average price of $15.48. The company has a market capitalization of $3.04 billion, a P/E ratio of 12.65, a PEG ratio of 1.77 and a beta of 1.12.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The company had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. Equities research analysts forecast that Primo Water Co. will post 0.82 EPS for the current fiscal year.

Primo Water Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a dividend of $0.09 per share. This is a boost from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, March 7th. Primo Water’s dividend payout ratio is 24.16%.

Primo Water 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.