Martingale Asset Management L P Sells 17,627 Shares of Primo Water Co. (NYSE:PRMW)

Martingale Asset Management L P lowered its stake in shares of Primo Water Co. (NYSE:PRMW) by 10.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,139 shares of the company’s stock after selling 17,627 shares during the period. Martingale Asset Management L P’s holdings in Primo Water were worth $2,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ancora Advisors LLC bought a new position in Primo Water during the 1st quarter worth $36,000. Point72 Middle East FZE bought a new position in shares of Primo Water in the fourth quarter worth $54,000. Clear Street Markets LLC acquired a new position in Primo Water in the fourth quarter valued at about $56,000. Ronald Blue Trust Inc. grew its stake in Primo Water by 44.8% during the first quarter. Ronald Blue Trust Inc. now owns 4,287 shares of the company’s stock worth $67,000 after buying an additional 1,326 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in Primo Water by 209.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company’s stock valued at $90,000 after buying an additional 3,945 shares during the period. 83.87% of the stock is owned by institutional investors.

Primo Water Trading Down 0.4 %

Shares of PRMW stock opened at $15.20 on Friday. Primo Water Co. has a twelve month low of $12.27 and a twelve month high of $16.47. The stock’s fifty day simple moving average is $14.14 and its 200 day simple moving average is $14.13. The company has a quick ratio of 0.62, a current ratio of 0.78 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $2.42 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.14 and a beta of 1.05.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $593.30 million during the quarter, compared to the consensus estimate of $586.22 million. Primo Water had a return on equity of 7.96% and a net margin of 3.81%. As a group, sell-side analysts predict that Primo Water Co. will post 0.75 EPS for the current fiscal year.

Primo Water Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.32 dividend on an annualized basis and a yield of 2.11%. Primo Water’s payout ratio is 61.11%.

Analyst Ratings Changes

Several research firms recently issued reports on PRMW. StockNews.com lowered shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Saturday. TD Securities raised their target price on Primo Water from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 11th. Finally, JPMorgan Chase & Co. lifted their price target on Primo Water from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Primo Water presently has an average rating of “Moderate Buy” and an average price target of $20.33.

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 water, filtration equipment, and coffee. The company offers its products under the Primo, Alhambra, Crystal Rock, Mountain Valley, Deep Rock, Hinckley Springs, Crystal Springs, Kentwood Springs, Mount Olympus, Pureflo, Sierra Springs, Sparkletts, and Renü brands in the United States; Canadian Springs, Labrador Source, and Amazon Springs brands in Canada; and Decantae, Eden, Eden Springs, Chateaud'eau, and Mey Eden brands in Europe and Israel.