Thrivent Financial for Lutherans Has $10.66 Million Holdings in Primo Water Co. (NYSE:PRMW)

Thrivent Financial for Lutherans decreased its position in shares of Primo Water Co. (NYSE:PRMW) by 12.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 487,440 shares of the company’s stock after selling 71,057 shares during the period. Thrivent Financial for Lutherans’ holdings in Primo Water were worth $10,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRMW. Cedar Wealth Management LLC bought a new position in Primo Water in the first quarter valued at about $27,000. CWM LLC grew 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 acquiring an additional 631 shares during the last quarter. Crewe Advisors LLC acquired a new position in Primo Water in the 1st quarter valued at approximately $66,000. Clearstead Trust LLC bought a new position in shares of Primo Water during the second quarter valued at $109,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Primo Water during the second quarter worth $151,000. Institutional investors own 87.71% of the company’s stock.

Primo Water Stock Performance

Shares of PRMW stock opened at $25.17 on Thursday. The firm has a 50 day moving average of $22.51 and a 200-day moving average of $21.02. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 52 week low of $12.92 and a 52 week high of $25.60.

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

Primo Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 annualized dividend and a yield of 1.43%. Primo Water’s payout ratio is currently 22.36%.

Wall Street Analyst Weigh In

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

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.