Primo Water Co. (NASDAQ:PRMW) – Investment analysts at B. Riley lowered their Q2 2018 EPS estimates for shares of Primo Water in a research note issued on Wednesday. B. Riley analyst K. Anderson now expects that the company will post earnings of $0.06 per share for the quarter, down from their prior forecast of $0.09. B. Riley currently has a “Buy” rating and a $18.00 target price on the stock. B. Riley also issued estimates for Primo Water’s Q4 2018 earnings at $0.01 EPS.
Several other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Primo Water from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, November 10th. Finally, BidaskClub cut shares of Primo Water from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.20.
In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of Primo Water stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $12.35, for a total value of $721,030.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David L. Warnock sold 33,226 shares of Primo Water stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $12.37, for a total transaction of $411,005.62. Following the completion of the transaction, the director now directly owns 25,157 shares of the company’s stock, valued at approximately $311,192.09. The disclosure for this sale can be found here. Insiders sold 93,526 shares of company stock valued at $1,155,653 in the last ninety days. 15.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRMW. Millennium Management LLC increased its holdings in Primo Water by 224.6% in the fourth quarter. Millennium Management LLC now owns 891,838 shares of the company’s stock valued at $11,210,000 after buying an additional 617,077 shares in the last quarter. Legion Partners Asset Management LLC purchased a new position in Primo Water in the fourth quarter valued at $7,576,000. Northpointe Capital LLC purchased a new position in Primo Water in the fourth quarter valued at $4,895,000. North Fourth Asset Management LP purchased a new position in Primo Water in the fourth quarter valued at $4,292,000. Finally, Elk Creek Partners LLC increased its holdings in Primo Water by 22.8% in the third quarter. Elk Creek Partners LLC now owns 761,585 shares of the company’s stock valued at $9,025,000 after buying an additional 141,586 shares in the last quarter. 72.08% of the stock is owned by institutional investors.
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About Primo Water
Primo Water Corporation (Primo) provides multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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