Strs Ohio Has $954,000 Position in Primo Water Co. (NYSE:PRMW)

Strs Ohio reduced its stake in shares of Primo Water Co. (NYSE:PRMW) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,400 shares of the company’s stock after selling 3,300 shares during the quarter. Strs Ohio’s holdings in Primo Water were worth $954,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP bought a new position in Primo Water during the third quarter valued at approximately $33,135,000. Raymond James & Associates raised its position in Primo Water by 303.5% during the third quarter. Raymond James & Associates now owns 806,004 shares of the company’s stock valued at $11,123,000 after acquiring an additional 606,256 shares in the last quarter. Vanguard Group Inc. raised its position in Primo Water by 4.5% during the third quarter. Vanguard Group Inc. now owns 11,910,887 shares of the company’s stock valued at $164,370,000 after acquiring an additional 508,251 shares in the last quarter. William Blair Investment Management LLC raised its position in Primo Water by 10.8% during the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after acquiring an additional 265,057 shares in the last quarter. Finally, River Road Asset Management LLC bought a new position in Primo Water during the third quarter valued at approximately $3,537,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. TD Securities dropped their price target on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. StockNews.com lowered shares of Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 18th. Finally, Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target on the stock. in a research report on Wednesday, April 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $20.75.

Primo Water Trading Up 0.7 %

NYSE:PRMW opened at $18.74 on Wednesday. Primo Water Co. has a 12 month low of $12.27 and a 12 month high of $18.86. The company’s 50 day moving average is $17.16 and its 200-day moving average is $15.43. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.74 and a beta of 1.12. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). The company had revenue of $438.70 million for the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Equities analysts anticipate that Primo Water Co. will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.09 per share. This is a boost from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.92%. The ex-dividend date was Thursday, March 7th. Primo Water’s dividend payout ratio is presently 24.16%.

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.