Thrivent Financial for Lutherans Sells 129,874 Shares of Primo Water Co. (NYSE:PRMW)

Thrivent Financial for Lutherans decreased its position in Primo Water Co. (NYSE:PRMW) by 26.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 357,566 shares of the company’s stock after selling 129,874 shares during the period. Thrivent Financial for Lutherans’ holdings in Primo Water were worth $9,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PRMW. GAMMA Investing LLC lifted its position in shares of Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after buying an additional 981 shares during the period. Blue Trust Inc. raised its stake in Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after acquiring an additional 641 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Primo Water in the third quarter valued at about $48,000. CWM LLC grew its stake in Primo Water by 31.5% during the third quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after buying an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of Primo Water during the second quarter worth approximately $109,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analysts Set New Price Targets

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

Primo Water Price Performance

Primo Water stock opened at $24.21 on Friday. The firm has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. The business has a 50-day moving average of $25.54 and a 200-day moving average of $23.13. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 1 year low of $14.06 and a 1 year high of $28.06.

Primo Water Dividend Announcement

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

About Primo Water

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.