Amalgamated Bank Cuts Stake in Primo Water Co. (NYSE:PRMW)

Amalgamated Bank reduced its position in Primo Water Co. (NYSE:PRMW) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,299 shares of the company’s stock after selling 1,262 shares during the quarter. Amalgamated Bank’s holdings in Primo Water were worth $230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates grew its holdings in shares of Primo Water by 18.1% during the fourth quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock valued at $14,327,000 after buying an additional 145,966 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Primo Water by 2.0% during the third quarter. Ancora Advisors LLC now owns 611,705 shares of the company’s stock valued at $8,442,000 after buying an additional 11,920 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of Primo Water by 761.6% during the third quarter. Walleye Capital LLC now owns 111,030 shares of the company’s stock valued at $1,532,000 after buying an additional 98,144 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of 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 buying an additional 265,057 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Primo Water by 49.3% during the third quarter. Qube Research & Technologies Ltd now owns 312,321 shares of the company’s stock valued at $4,310,000 after buying an additional 103,103 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRMW. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. boosted their price objective on shares of Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Raymond James downgraded shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price for the company. in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada boosted their target price on shares of Primo Water from $19.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Primo Water currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Primo Water Trading Up 0.5 %

Shares of Primo Water stock opened at $22.24 on Thursday. The firm has a 50-day simple moving average of $19.00 and a two-hundred day simple moving average of $16.43. The company has a market cap of $3.56 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.09. Primo Water Co. has a fifty-two week low of $12.27 and a fifty-two week high of $23.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.02 and a current ratio of 2.13.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The company had revenue of $438.70 million for the quarter, compared to analysts’ expectations of $582.93 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. As a group, equities analysts predict that Primo Water Co. will post 0.82 earnings per share for the current fiscal year.

Primo Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.62%. Primo Water’s dividend payout ratio is currently 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.