Gamco Investors INC. ET AL Cuts Position in Primo Water Co. (NYSE:PRMW)

Gamco Investors INC. ET AL decreased its holdings in Primo Water Co. (NYSE:PRMW) by 0.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 897,860 shares of the company’s stock after selling 1,500 shares during the period. Gamco Investors INC. ET AL owned approximately 0.56% of Primo Water worth $16,350,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. CWM LLC raised its holdings in Primo Water by 36.0% in the first quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after buying an additional 631 shares during the period. Tobam raised its holdings in Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company’s stock valued at $306,000 after buying an additional 705 shares during the period. Natixis Advisors L.P. raised its holdings in Primo Water by 6.2% in the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock valued at $354,000 after buying an additional 1,368 shares during the period. Cedar Wealth Management LLC acquired a new stake in Primo Water in the first quarter valued at approximately $27,000. Finally, Signaturefd LLC raised its stake in shares of Primo Water by 358.1% during the fourth quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $36,000 after purchasing an additional 1,848 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Primo Water Stock Up 1.1 %

Shares of NYSE:PRMW traded up $0.24 during midday trading on Friday, reaching $21.60. The company had a trading volume of 867,044 shares, compared to its average volume of 1,250,411. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.13 and a quick ratio of 2.02. The stock’s fifty day moving average price is $21.83 and its 200-day moving average price is $18.70. The stock has a market capitalization of $3.47 billion, a P/E ratio of 13.42, a PEG ratio of 1.56 and a beta of 1.10. Primo Water Co. has a one year low of $12.92 and a one year high of $25.60.

Primo Water (NYSE:PRMW) last released its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.05. Primo Water had a net margin of 12.22% and a return on equity of 9.36%. The firm had revenue of $452.00 million during the quarter, compared to analyst estimates of $438.81 million. Equities research analysts expect that Primo Water Co. will post 0.89 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Friday, June 7th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, June 7th. This represents a $0.36 annualized dividend and a yield of 1.67%. Primo Water’s payout ratio is 22.36%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Primo Water in a research note on Tuesday, June 18th. Raymond James lowered shares of Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price objective on the stock. in a research note on Wednesday, April 3rd. TD Securities lifted their price objective on shares of Primo Water from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Primo Water from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, CIBC lifted their price objective on shares of Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Company Profile

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.