Gabelli Funds LLC Sells 3,000 Shares of Primo Water Co. (NYSE:PRMW)

Gabelli Funds LLC reduced its position in Primo Water Co. (NYSE:PRMW) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,000 shares of the company’s stock after selling 3,000 shares during the quarter. Gabelli Funds LLC owned 0.09% of Primo Water worth $2,495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PRMW. Crewe Advisors LLC bought a new position in Primo Water in the first quarter worth about $66,000. CANADA LIFE ASSURANCE Co boosted its position in Primo Water by 255.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 52,111 shares of the company’s stock valued at $945,000 after buying an additional 37,465 shares during the last quarter. Cedar Wealth Management LLC purchased a new stake in Primo Water in the first quarter valued at approximately $27,000. O Shaughnessy Asset Management LLC boosted its position in Primo Water by 1.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 148,209 shares of the company’s stock valued at $2,699,000 after buying an additional 2,794 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Primo Water by 153,637.0% in the first quarter. Acadian Asset Management LLC now owns 83,018 shares of the company’s stock valued at $1,509,000 after buying an additional 82,964 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

Primo Water Price Performance

Shares of PRMW stock traded up $0.24 during trading hours on Friday, hitting $21.60. 867,044 shares of the company’s stock were exchanged, compared to its average volume of 1,250,411. The company has a quick ratio of 2.02, a current ratio of 2.13 and a debt-to-equity ratio of 0.87. The firm has a market cap of $3.47 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.57 and a beta of 1.10. The firm has a 50 day moving average of $21.83 and a two-hundred day moving average of $18.73. Primo Water Co. has a fifty-two week low of $12.92 and a fifty-two week high of $25.60.

Primo Water (NYSE:PRMW) last announced its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $452.00 million during the quarter, compared to the consensus estimate of $438.81 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. Sell-side analysts forecast that Primo Water Co. will post 0.89 EPS for the current year.

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Friday, June 7th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, June 7th. Primo Water’s dividend payout ratio is currently 22.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRMW. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 target price on the stock. in a research report on Wednesday, April 3rd. TD Securities boosted their price target on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. CIBC boosted their price target on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price target on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Finally, StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a report on Friday, May 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.83.

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.