California Public Employees Retirement System cut its position in Primo Water Corporation (NASDAQ:PRMW) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,268 shares of the company’s stock after selling 1,500 shares during the period. California Public Employees Retirement System’s holdings in Primo Water Corporation were worth $1,117,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Primo Water Corporation by 22.2% in the first quarter. Wellington Management Group LLP now owns 283,550 shares of the company’s stock worth $3,851,000 after buying an additional 51,600 shares during the last quarter. Cortina Asset Management LLC increased its position in Primo Water Corporation by 16.6% in the first quarter. Cortina Asset Management LLC now owns 504,204 shares of the company’s stock worth $6,847,000 after buying an additional 71,768 shares during the last quarter. Kings Point Capital Management increased its position in Primo Water Corporation by 3.1% in the first quarter. Kings Point Capital Management now owns 39,900 shares of the company’s stock worth $542,000 after buying an additional 1,200 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Primo Water Corporation by 166.7% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 12,800 shares of the company’s stock worth $173,000 after buying an additional 8,000 shares during the last quarter. Finally, Granite Point Capital Management L.P. bought a new position in Primo Water Corporation during the first quarter worth about $204,000. 58.01% of the stock is owned by institutional investors.

Shares of Primo Water Corporation (PRMW) traded up 1.89% during trading on Friday, hitting $12.37. 26,512 shares of the company’s stock were exchanged. The stock’s market cap is $369.17 million. The firm has a 50-day moving average price of $12.69 and a 200-day moving average price of $13.05. Primo Water Corporation has a one year low of $10.74 and a one year high of $15.39.

Primo Water Corporation (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.09. The company had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $73.20 million. Primo Water Corporation had a negative net margin of 11.15% and a negative return on equity of 44.11%. Primo Water Corporation’s quarterly revenue was up 117.4% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities research analysts expect that Primo Water Corporation will post ($0.31) EPS for the current fiscal year.

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A number of equities analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $17.50 price target on shares of Primo Water Corporation in a research note on Monday. ValuEngine downgraded shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Primo Water Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. BidaskClub raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Primo Water Corporation in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.10.

In other Primo Water Corporation news, insider Camden Partners Strategic Fund sold 7,985 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $13.50, for a total value of $107,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders acquired 2,750 shares of company stock valued at $30,050. 15.80% of the stock is owned by corporate insiders.

Primo Water Corporation Company Profile

Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).

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Institutional Ownership by Quarter for Primo Water Corporation (NASDAQ:PRMW)

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