B. Riley Financial Inc. cut its holdings in shares of Primo Water Co. (NASDAQ:PRMW) by 79.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,225 shares of the company’s stock after selling 88,133 shares during the period. B. Riley Financial Inc. owned 0.06% of Primo Water worth $406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in Primo Water in the first quarter valued at approximately $173,000. Alambic Investment Management L.P. acquired a new stake in Primo Water in the first quarter valued at approximately $356,000. Eagle Asset Management Inc. boosted its stake in Primo Water by 8.8% in the first quarter. Eagle Asset Management Inc. now owns 418,155 shares of the company’s stock valued at $4,896,000 after acquiring an additional 33,965 shares in the last quarter. BlackRock Inc. boosted its stake in Primo Water by 5.6% in the first quarter. BlackRock Inc. now owns 1,462,268 shares of the company’s stock valued at $17,123,000 after acquiring an additional 77,326 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Primo Water by 16.1% in the first quarter. Dimensional Fund Advisors LP now owns 793,187 shares of the company’s stock valued at $9,288,000 after acquiring an additional 110,186 shares in the last quarter. Hedge funds and other institutional investors own 74.18% of the company’s stock.

NASDAQ PRMW opened at $18.97 on Tuesday. The firm has a market capitalization of $744.48 million, a price-to-earnings ratio of -67.36, a P/E/G ratio of 4.33 and a beta of 0.37. Primo Water Co. has a 12-month low of $10.47 and a 12-month high of $20.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.06 and a quick ratio of 0.88.

Primo Water (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The business had revenue of $75.80 million during the quarter, compared to analysts’ expectations of $72.96 million. Primo Water had a net margin of 3.21% and a return on equity of 8.21%. equities analysts anticipate that Primo Water Co. will post 0.38 earnings per share for the current year.

In related news, VP Michael Cauthen sold 1,377 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $19.56, for a total transaction of $26,934.12. Following the completion of the transaction, the vice president now owns 6,159 shares of the company’s stock, valued at $120,470.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles A. Norris sold 43,454 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $19.74, for a total transaction of $857,781.96. Following the transaction, the director now directly owns 4,282 shares of the company’s stock, valued at approximately $84,526.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,509 shares of company stock valued at $4,895,288. Corporate insiders own 13.50% of the company’s stock.

Several equities research analysts have weighed in on PRMW shares. William Blair started coverage on shares of Primo Water in a research note on Thursday, May 24th. They issued an “outperform” rating for the company. BMO Capital Markets raised their target price on shares of Primo Water from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, May 24th. BidaskClub upgraded shares of Primo Water from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 1st. B. Riley raised their target price on shares of Primo Water from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, June 26th. Finally, Zacks Investment Research upgraded shares of Primo Water from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Thursday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $20.75.

Primo Water Company Profile

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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

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