Primo Water Co. (NYSE:PRMW) is Corbyn Investment Management Inc. MD’s 7th Largest Position

Corbyn Investment Management Inc. MD lessened its stake in shares of Primo Water Co. (NYSE:PRMW) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,042 shares of the company’s stock after selling 597 shares during the quarter. Primo Water makes up approximately 3.6% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 7th largest holding. Corbyn Investment Management Inc. MD’s holdings in Primo Water were worth $9,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake 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 buying an additional 981 shares during the last quarter. Blue Trust Inc. boosted its stake in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after buying an additional 641 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Primo Water in the 3rd quarter worth about $48,000. Crewe Advisors LLC acquired a new stake in Primo Water in the 1st quarter worth about $66,000. Finally, CWM LLC boosted its stake in Primo Water by 31.5% in the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock worth $84,000 after buying an additional 792 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PRMW shares. William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They issued an “outperform” rating on the stock. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Stock Performance

NYSE PRMW opened at $24.21 on Monday. The business’s 50-day simple moving average is $25.47 and its 200-day simple moving average is $23.06. The firm has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. 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 $14.06 and a 1-year high of $28.06.

Primo Water Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

About Primo Water

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.