Dimensional Fund Advisors LP Raises Stake in Primo Water Co. (PRMW)

Dimensional Fund Advisors LP lifted its position in shares of Primo Water Co. (NASDAQ:PRMW) by 16.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,213,089 shares of the company’s stock after purchasing an additional 168,003 shares during the period. Dimensional Fund Advisors LP’s holdings in Primo Water were worth $21,896,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Primo Water by 22.5% during the 3rd quarter. BlackRock Inc. now owns 2,211,916 shares of the company’s stock worth $39,926,000 after purchasing an additional 406,920 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Primo Water by 1,225.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,223,762 shares of the company’s stock worth $22,089,000 after purchasing an additional 1,131,412 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Primo Water by 166.3% during the 2nd quarter. Renaissance Technologies LLC now owns 690,355 shares of the company’s stock worth $12,074,000 after purchasing an additional 431,100 shares during the period. Eagle Asset Management Inc. grew its holdings in shares of Primo Water by 1.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 362,221 shares of the company’s stock worth $6,538,000 after purchasing an additional 4,919 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Primo Water by 11.3% during the 2nd quarter. Northern Trust Corp now owns 326,820 shares of the company’s stock worth $5,716,000 after purchasing an additional 33,250 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.

In other Primo Water news, VP Michael Cauthen sold 1,859 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $14.53, for a total value of $27,011.27. Following the transaction, the vice president now directly owns 5,456 shares of the company’s stock, valued at approximately $79,275.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.50% of the company’s stock.

Several equities analysts recently commented on PRMW shares. BidaskClub lowered Primo Water from a “hold” rating to a “sell” rating in a research report on Saturday, September 22nd. Barrington Research reissued a “buy” rating and set a $20.00 price target on shares of Primo Water in a research report on Wednesday, November 7th. BMO Capital Markets raised Primo Water from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $15.00 to $17.00 in a research report on Friday, November 16th. They noted that the move was a valuation call. Imperial Capital started coverage on Primo Water in a research report on Friday, November 16th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, ValuEngine lowered Primo Water from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Primo Water presently has an average rating of “Buy” and a consensus target price of $19.20.

Primo Water stock opened at $14.54 on Friday. The company has a market cap of $574.94 million, a P/E ratio of -51.93, a P/E/G ratio of 2.52 and a beta of 0.58. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 1.94. Primo Water Co. has a one year low of $11.16 and a one year high of $20.72.

Primo Water (NASDAQ:PRMW) last announced its earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. Primo Water had a positive return on equity of 10.31% and a negative net margin of 17.88%. The company had revenue of $81.80 million for the quarter, compared to analyst estimates of $83.26 million. During the same period in the prior year, the company posted $0.15 EPS. Primo Water’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Primo Water Co. will post 0.32 EPS for the current year.

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About Primo Water

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.

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

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