Sei Investments Co. increased its holdings in Primo Water Co. (NYSE:PRMW) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,386 shares of the company’s stock after purchasing an additional 2,348 shares during the period. Sei Investments Co.’s holdings in Primo Water were worth $441,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the business. Swiss National Bank grew its position in Primo Water by 1.6% during the second quarter. Swiss National Bank now owns 337,048 shares of the company’s stock valued at $5,650,000 after acquiring an additional 5,300 shares during the period. Legato Capital Management LLC bought a new position in shares of Primo Water during the second quarter valued at approximately $468,000. Fox Run Management L.L.C. bought a new position in shares of Primo Water during the second quarter valued at approximately $191,000. Global Alpha Capital Management Ltd. grew its holdings in shares of Primo Water by 1.1% during the second quarter. Global Alpha Capital Management Ltd. now owns 880,659 shares of the company’s stock valued at $14,733,000 after purchasing an additional 9,533 shares during the last quarter. Finally, Fort Point Capital Partners LLC grew its holdings in Primo Water by 56.0% in the 2nd quarter. Fort Point Capital Partners LLC now owns 155,194 shares of the company’s stock worth $2,596,000 after buying an additional 55,725 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on PRMW. Jefferies Financial Group reiterated a “buy” rating on shares of Primo Water in a research report on Friday, June 11th. Royal Bank of Canada upped their price target on shares of Primo Water from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 6th. Finally, Zacks Investment Research downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday, September 15th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $19.63.
Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. Primo Water had a negative net margin of 0.87% and a positive return on equity of 6.28%. On average, analysts anticipate that Primo Water Co. will post 0.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Thursday, August 19th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Wednesday, August 18th. Primo Water’s dividend payout ratio (DPR) is currently 54.55%.
In other Primo Water news, Director Jeremy S. G. Fowden sold 13,710 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $17.71, for a total value of $242,804.10. Following the completion of the sale, the director now directly owns 1,373,000 shares in the company, valued at $24,315,830. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jason R. Ausher sold 12,222 shares of the firm’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $17.95, for a total transaction of $219,384.90. Following the completion of the transaction, the chief accounting officer now directly owns 43,534 shares in the company, valued at $781,435.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,114 shares of company stock valued at $2,462,460. Corporate insiders own 5.90% of the company’s stock.
About Primo Water
Primo Water Corp. engages in the manufacture, process, and distribution of beverages. It operates through the following segments: North America, Rest of World, and All Other. The North America segment offers bottled water, water filtration, and coffee services to customers in North America. The Rest of World segment provides bottled water, water filtration, and coffee services to customers in Europe and Israel.
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