Primo Water Co. (NYSE:PRMW) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its position in shares of Primo Water Co. (NYSE:PRMW) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,532 shares of the company’s stock after selling 12,441 shares during the period. Inspire Investing LLC’s holdings in Primo Water were worth $777,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cedar Wealth Management LLC purchased a new stake in shares of Primo Water during the 1st quarter worth $27,000. CWM LLC lifted 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 purchasing an additional 631 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Primo Water in the first quarter valued at $66,000. Clearstead Trust LLC purchased a new stake in Primo Water in the second quarter valued at $109,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Primo Water in the second quarter valued at $151,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Water Price Performance

Shares of NYSE:PRMW opened at $25.25 on Friday. The company has a 50-day simple moving average of $22.24 and a 200-day simple moving average of $20.80. Primo Water Co. has a one year low of $12.92 and a one year high of $25.60. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.73 and a beta of 1.10.

Primo Water (NYSE:PRMW) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The business had revenue of $485.00 million for the quarter, compared to analyst estimates of $477.40 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Primo Water Co. will post 0.87 EPS for the current year.

Primo Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.43%. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PRMW. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. StockNews.com cut shares of Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Securities boosted their price target on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, CIBC boosted their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.