Mount Yale Investment Advisors LLC Sells 4,404 Shares of Primo Water Co. (NYSE:PRMW)

Mount Yale Investment Advisors LLC lessened its stake in shares of Primo Water Co. (NYSE:PRMW) by 23.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 14,024 shares of the company’s stock after selling 4,404 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Primo Water were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC bought a new position in shares of Primo Water in the first quarter worth about $27,000. CWM LLC grew its holdings in Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the last quarter. Crewe Advisors LLC bought a new position in Primo Water in the 1st quarter worth approximately $66,000. Clearstead Trust LLC acquired a new position in shares of Primo Water during the second quarter worth approximately $109,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Primo Water in the second quarter valued at approximately $151,000. Institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

PRMW has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. CIBC increased their target price on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, TD Securities lifted their price objective on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Stock Performance

NYSE:PRMW opened at $25.47 on Wednesday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $22.42 and a 200 day moving average price of $20.99. The firm has a market capitalization of $4.10 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. Primo Water Co. has a 12-month low of $12.92 and a 12-month high of $25.60.

Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, beating 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 firm had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. During the same period in the prior year, the business posted $0.22 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that Primo Water Co. will post 0.87 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.09 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.41%. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

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.