Wedge Capital Management L L P NC Has $4.52 Million Stock Holdings in Primo Water Co. (NYSE:PRMW)

Wedge Capital Management L L P NC trimmed its position in Primo Water Co. (NYSE:PRMW) by 21.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,035 shares of the company’s stock after selling 47,812 shares during the quarter. Wedge Capital Management L L P NC owned about 0.11% of Primo Water worth $4,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PRMW. GAMMA Investing LLC raised its holdings in Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after acquiring an additional 981 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of Primo Water in the first quarter valued at about $27,000. Sound Income Strategies LLC bought a new position in shares of Primo Water in the third quarter worth about $48,000. CWM LLC lifted its position in shares of Primo Water by 36.0% during the 1st quarter. CWM LLC now owns 2,384 shares of the company’s stock worth $43,000 after purchasing an additional 631 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in Primo Water during the 1st quarter valued at approximately $66,000. 87.71% of the stock is owned by institutional investors.

Primo Water Price Performance

NYSE:PRMW opened at $26.62 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. The company has a 50-day moving average of $23.62 and a 200-day moving average of $21.78. Primo Water Co. has a 52 week low of $12.92 and a 52 week high of $26.86. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.89 and a beta of 1.11.

Primo Water (NYSE:PRMW) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Primo Water had a net margin of 12.61% and a return on equity of 8.94%. The firm had revenue of $485.00 million during the quarter, compared to analysts’ expectations of $477.40 million. During the same quarter last year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current fiscal year.

Primo Water Dividend Announcement

The business also recently declared 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 yield of 1.35%. The ex-dividend date of this dividend was Thursday, August 22nd. Primo Water’s dividend payout ratio (DPR) is 22.36%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRMW. Raymond James downgraded Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Primo Water from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. StockNews.com downgraded shares of Primo Water from a “buy” rating to a “hold” rating in a report on Sunday. Finally, CIBC increased their target price 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company 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.