Hsbc Holdings PLC Trims Holdings in Primo Water Co. (NYSE:PRMW)

Hsbc Holdings PLC decreased its holdings in Primo Water Co. (NYSE:PRMW) by 28.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,693 shares of the company’s stock after selling 6,978 shares during the quarter. Hsbc Holdings PLC’s holdings in Primo Water were worth $390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PRMW. Dimensional Fund Advisors LP increased its holdings in shares of Primo Water by 12.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,292,891 shares of the company’s stock valued at $19,459,000 after purchasing an additional 146,528 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Primo Water by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 157,462 shares of the company’s stock worth $2,380,000 after acquiring an additional 4,411 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Primo Water by 7.7% during the 4th quarter. Gabelli Funds LLC now owns 140,000 shares of the company’s stock worth $2,107,000 after acquiring an additional 10,000 shares during the period. Neuberger Berman Group LLC purchased a new position in Primo Water in the fourth quarter valued at approximately $310,000. Finally, Goldman Sachs Group Inc. raised its holdings in Primo Water by 32.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company’s stock valued at $57,945,000 after buying an additional 937,235 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

PRMW has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Monday. Finally, CIBC lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Down 0.7 %

PRMW opened at $24.76 on Thursday. Primo Water Co. has a twelve month low of $12.92 and a twelve month high of $25.67. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The firm has a market cap of $3.98 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. The business has a 50 day moving average price of $22.92 and a 200 day moving average price of $21.29.

Primo Water (NYSE:PRMW) last issued 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 during the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. Primo Water’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.22 earnings per share. Research analysts forecast that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.36 annualized dividend and a yield of 1.45%. Primo Water’s dividend payout ratio is currently 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.