MQS Management LLC Takes $252,000 Position in Primo Water Co. (NYSE:PRMW)

MQS Management LLC acquired a new stake in Primo Water Co. (NYSE:PRMWGet Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,297 shares of the company’s stock, valued at approximately $252,000.

A number of other large investors have also recently modified their holdings of PRMW. First Trust Advisors LP acquired a new stake in Primo Water in the 1st quarter valued at about $4,509,000. Morgan Stanley lifted its position in Primo Water by 23.2% during the second quarter. Morgan Stanley now owns 437,579 shares of the company’s stock worth $7,321,000 after acquiring an additional 82,532 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Primo Water by 10.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 41,719 shares of the company’s stock worth $656,000 after acquiring an additional 3,778 shares during the last quarter. Citigroup Inc. raised its position in shares of Primo Water by 138.0% in the third quarter. Citigroup Inc. now owns 17,884 shares of the company’s stock valued at $282,000 after buying an additional 10,371 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Primo Water by 9.4% in the third quarter. Goldman Sachs Group Inc. now owns 9,821,487 shares of the company’s stock valued at $154,393,000 after buying an additional 846,753 shares in the last quarter. Institutional investors and hedge funds own 93.36% of the company’s stock.

PRMW has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Primo Water from a “strong sell” rating to a “hold” rating and set a $16.00 price target for the company in a research report on Saturday, May 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Primo Water from $18.00 to $16.00 in a research report on Friday, May 13th. TD Securities dropped their price target on shares of Primo Water from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Finally, Citigroup dropped their price target on shares of Primo Water from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, February 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Primo Water has a consensus rating of “Hold” and an average price target of $18.40.

NYSE:PRMW traded up $0.16 during mid-day trading on Friday, reaching $13.67. The stock had a trading volume of 704,394 shares, compared to its average volume of 818,405. The stock has a 50-day simple moving average of $14.33 and a two-hundred day simple moving average of $15.97. The stock has a market capitalization of $2.20 billion, a PE ratio of -683.50 and a beta of 1.33. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.72 and a quick ratio of 0.58. Primo Water Co. has a 12 month low of $13.26 and a 12 month high of $20.12.

Primo Water (NYSE:PRMWGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $526.10 million for the quarter, compared to analysts’ expectations of $516.19 million. Primo Water had a negative net margin of 0.15% and a positive return on equity of 5.33%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. Equities analysts expect that Primo Water Co. will post 0.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Friday, June 10th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.28 dividend on an annualized basis and a yield of 2.05%. Primo Water’s dividend payout ratio (DPR) is -1,400.00%.

In related news, Director Steven P. Stanbrook bought 3,362 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were purchased at an average price of $14.37 per share, with a total value of $48,311.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jay Wells bought 10,000 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were bought at an average cost of $13.81 per share, for a total transaction of $138,100.00. The disclosure for this purchase can be found here. Insiders own 5.90% of the company’s stock.

Primo Water Company Profile (Get Rating)

Primo Water Corporation provides water direct to consumers and water filtration services in North America and Europe. It offers bottled water, purified bottled water, premium spring, sparkling and flavored water, mineral water, filtration equipment, and coffee; as well as water dispensers, and self-service refill drinking water.

See Also

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

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