Gabelli Funds LLC Has $1.36 Million Position in Primo Water Co. (NYSE:PRMW)

Gabelli Funds LLC decreased its position in shares of Primo Water Co. (NYSE:PRMW) by 54.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,000 shares of the company’s stock after selling 75,000 shares during the quarter. Gabelli Funds LLC’s holdings in Primo Water were worth $1,355,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Cedar Wealth Management LLC acquired a new position in shares of Primo Water during the first quarter valued at $27,000. CWM LLC raised its holdings in Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the last quarter. Crewe Advisors LLC acquired a new position in Primo Water during the 1st quarter valued at about $66,000. Clearstead Trust LLC bought a new position in shares of Primo Water in the 2nd quarter valued at about $109,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Primo Water during the 2nd quarter worth approximately $151,000. 87.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Primo Water Stock Down 1.2 %

Shares of Primo Water stock opened at $25.17 on Thursday. The company has a market capitalization of $4.04 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The business has a 50-day moving average of $22.51 and a two-hundred day moving average of $21.02. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $25.60.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $485.00 million for the quarter, compared to the consensus estimate of $477.40 million. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. As a group, equities analysts predict that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Thursday, August 22nd. 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.