Primo Water Co. (NYSE:PRMW) Stock Holdings Lessened by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD lessened its position in shares of Primo Water Co. (NYSE:PRMW) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 368,639 shares of the company’s stock after selling 3,203 shares during the period. Primo Water makes up about 3.3% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 9th biggest position. Corbyn Investment Management Inc. MD owned 0.23% of Primo Water worth $8,058,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC raised its holdings in shares of Primo Water by 36.0% in the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock valued at $43,000 after acquiring an additional 631 shares in the last quarter. Tobam increased its position in shares of Primo Water by 4.4% in the first quarter. Tobam now owns 16,780 shares of the company’s stock worth $306,000 after purchasing an additional 705 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Primo Water by 3.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company’s stock worth $781,000 after buying an additional 1,307 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of Primo Water by 6.2% in the 4th quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock worth $354,000 after buying an additional 1,368 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in shares of Primo Water during the 1st quarter valued at $27,000. Institutional investors own 87.71% of the company’s stock.

Primo Water Price Performance

PRMW opened at $23.28 on Friday. The stock’s 50 day simple moving average is $21.59 and its 200 day simple moving average is $20.25. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. Primo Water Co. has a 1 year low of $12.92 and a 1 year high of $25.60. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.62 and a beta of 1.10.

Primo Water (NYSE:PRMW) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million during the quarter, compared to analyst estimates of $477.40 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s payout ratio is 22.36%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a research report on Tuesday, June 18th. TD Securities upped their price objective on Primo Water from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. CIBC raised their price objective on Primo Water from $24.00 to $26.00 and gave the company an “outperformer” rating in a report on Tuesday, June 18th. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Primo Water from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.