Oppenheimer Asset Management Inc. Trims Position in Primo Water Co. (NYSE:PRMW)

Oppenheimer Asset Management Inc. decreased its holdings in Primo Water Co. (NYSE:PRMW) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,910 shares of the company’s stock after selling 1,173 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Primo Water were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after purchasing an additional 981 shares during the period. Blue Trust Inc. lifted its holdings in Primo Water by 52.1% in the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after buying an additional 641 shares during the period. Sound Income Strategies LLC bought a new stake in Primo Water during the 3rd quarter valued at approximately $48,000. CWM LLC grew its holdings in shares of Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after acquiring an additional 792 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Primo Water during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. William Blair started coverage on Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Primo Water in a research report on Tuesday, October 1st. Finally, StockNews.com initiated coverage on shares of Primo Water in a report on Wednesday. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Primo Water Price Performance

NYSE PRMW opened at $24.21 on Wednesday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. Primo Water Co. has a 1-year low of $14.06 and a 1-year high of $28.06. 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’s fifty day moving average price is $25.50 and its 200-day moving average price is $23.12.

Primo Water Announces Dividend

The company also recently announced a — dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a yield of 1.3%. Primo Water’s payout ratio is 22.36%.

Primo Water 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.