Wedge Capital Management L L P NC Has $4.96 Million Stock Position in Primo Water Co. (NYSE:PRMW)

Wedge Capital Management L L P NC trimmed its position in Primo Water Co. (NYSE:PRMW) by 37.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,847 shares of the company’s stock after selling 138,099 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.14% of Primo Water worth $4,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new position in shares of Primo Water during the 1st quarter worth about $27,000. Signaturefd LLC grew its position in shares of Primo Water by 358.1% during the 4th quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock worth $36,000 after buying an additional 1,848 shares during the period. CWM LLC grew its position in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after buying an additional 631 shares during the period. Crewe Advisors LLC acquired a new position in shares of Primo Water during the 1st quarter worth about $66,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Primo Water during the 1st quarter worth about $235,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRMW. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. TD Securities boosted their price objective on Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. CIBC boosted their price objective on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Stock Up 0.3 %

NYSE PRMW traded up $0.06 during trading on Friday, hitting $21.97. The stock had a trading volume of 54,493 shares, compared to its average volume of 1,185,739. The company has a market capitalization of $3.53 billion, a PE ratio of 13.61, a P/E/G ratio of 1.62 and a beta of 1.10. The company’s 50-day moving average price is $21.63 and its two-hundred day moving average price is $19.39. 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 Co. has a 12 month low of $12.92 and a 12 month high of $25.60.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $485.00 million for the quarter, compared to analysts’ expectations of $477.40 million. Primo Water had a return on equity of 9.36% and a net margin of 12.22%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, sell-side analysts forecast that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, August 22nd. 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.