ClariVest Asset Management LLC Holds Position in Primo Water Corp. (PRMW)
ClariVest Asset Management LLC held its stake in shares of Primo Water Corp. (NASDAQ:PRMW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,219 shares of the company’s stock at the end of the second quarter. ClariVest Asset Management LLC’s holdings in Primo Water Corp. were worth $415,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. Alpine Partners VI LLC bought a new stake in shares of Primo Water Corp. during the first quarter valued at $106,000. Menta Capital LLC bought a new stake in shares of Primo Water Corp. during the first quarter valued at $226,000. Barclays PLC boosted its stake in shares of Primo Water Corp. by 65.4% in the first quarter. Barclays PLC now owns 52,600 shares of the company’s stock valued at $526,000 after buying an additional 20,800 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Primo Water Corp. by 538.8% in the first quarter. BlackRock Group LTD now owns 96,308 shares of the company’s stock valued at $972,000 after buying an additional 81,231 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Primo Water Corp. by 31.0% in the first quarter. Geode Capital Management LLC now owns 149,029 shares of the company’s stock valued at $1,503,000 after buying an additional 35,225 shares during the last quarter. 64.60% of the stock is currently owned by institutional investors.
Shares of Primo Water Corp. (NASDAQ:PRMW) traded down 2.82% during mid-day trading on Monday, hitting $13.42. The company had a trading volume of 93,363 shares. Primo Water Corp. has a 52-week low of $7.39 and a 52-week high of $13.91. The firm has a market capitalization of $349.32 million, a price-to-earnings ratio of 82.84 and a beta of 0.04. The firm has a 50-day moving average price of $12.07 and a 200 day moving average price of $11.55.
Primo Water Corp. (NASDAQ:PRMW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The firm had revenue of $34.40 million for the quarter, compared to analyst estimates of $33.86 million. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. Primo Water Corp.’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. Analysts expect that Primo Water Corp. will post $0.24 earnings per share for the current year.
A number of research firms have recently commented on PRMW. B. Riley reaffirmed a “buy” rating and set a $13.00 target price on shares of Primo Water Corp. in a research note on Friday, July 29th. Zacks Investment Research raised Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Friday, July 8th. Finally, Barrington Research upped their target price on Primo Water Corp. from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 11th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.75.
Primo Water Corp. Company Profile
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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