Primo Water Corp. (PRMW) Stake Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its stake in Primo Water Corp. (NASDAQ:PRMW) by 129.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 77,477 shares of the company’s stock after buying an additional 43,677 shares during the period. Bank of New York Mellon Corp owned 0.30% of Primo Water Corp. worth $914,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its stake in Primo Water Corp. by 65.4% in the first quarter. Barclays PLC now owns 52,600 shares of the company’s stock worth $526,000 after buying an additional 20,800 shares during the period. Wellington Management Group LLP boosted its stake in Primo Water Corp. by 2.2% in the first quarter. Wellington Management Group LLP now owns 672,450 shares of the company’s stock worth $6,785,000 after buying an additional 14,350 shares during the period. Geode Capital Management LLC boosted its stake in Primo Water Corp. by 31.0% in the first quarter. Geode Capital Management LLC now owns 149,029 shares of the company’s stock worth $1,503,000 after buying an additional 35,225 shares during the period. Alpine Partners VI LLC bought a new stake in Primo Water Corp. during the first quarter worth approximately $106,000. Finally, Menta Capital LLC bought a new stake in Primo Water Corp. during the first quarter worth approximately $226,000. 64.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Primo Water Corp. (NASDAQ:PRMW) traded down 2.53% during midday trading on Monday, reaching $13.46. 38,928 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $12.03 and a 200-day moving average of $11.49. Primo Water Corp. has a one year low of $7.39 and a one year high of $13.91. The stock has a market cap of $350.36 million, a price-to-earnings ratio of 83.09 and a beta of 0.04.
Primo Water Corp. (NASDAQ:PRMW) last announced its earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The firm earned $34.40 million during the quarter, compared to the consensus estimate of $33.86 million. During the same quarter in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Primo Water Corp. will post $0.24 earnings per share for the current year.
A number of research firms recently commented on PRMW. B. Riley reaffirmed a “buy” rating and issued a $13.00 price target on shares of Primo Water Corp. in a report on Friday, July 29th. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, July 8th. Finally, Barrington Research lifted their price target on shares of Primo Water Corp. from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday, October 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Primo Water Corp. presently has an average rating of “Buy” and a consensus price target of $13.75.
About Primo Water Corp.
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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