Corbyn Investment Management Inc. MD Sells 1,209 Shares of Primo Water Co. (NYSE:PRMW)

Corbyn Investment Management Inc. MD reduced its holdings in Primo Water Co. (NYSE:PRMW) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 374,001 shares of the company’s stock after selling 1,209 shares during the period. Primo Water makes up about 2.7% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 12th biggest position. Corbyn Investment Management Inc. MD’s holdings in Primo Water were worth $5,629,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PRMW. Vanguard Group Inc. lifted its stake in Primo Water by 4.5% in the third quarter. Vanguard Group Inc. now owns 11,910,887 shares of the company’s stock valued at $164,370,000 after buying an additional 508,251 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Primo Water by 1.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,352,477 shares of the company’s stock worth $101,464,000 after acquiring an additional 116,453 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Primo Water by 10.8% in the third quarter. William Blair Investment Management LLC now owns 2,713,299 shares of the company’s stock valued at $37,444,000 after purchasing an additional 265,057 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Primo Water in the third quarter worth $33,135,000. Finally, Raymond James & Associates grew its position in Primo Water by 18.1% in the fourth quarter. Raymond James & Associates now owns 951,970 shares of the company’s stock valued at $14,327,000 after purchasing an additional 145,966 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRMW. StockNews.com downgraded Primo Water from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 18th. Raymond James cut 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 lowered their target price on shares of Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of Primo Water from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.75.

Primo Water Stock Performance

Shares of PRMW traded up $0.08 during trading hours on Friday, hitting $18.93. The company had a trading volume of 211,232 shares, compared to its average volume of 1,001,794. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.77 and a beta of 1.12. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $17.31 and a 200-day moving average of $15.48. Primo Water Co. has a 12 month low of $12.27 and a 12 month high of $19.01.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). The firm had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. Primo Water had a net margin of 10.82% and a return on equity of 8.55%. Equities analysts anticipate that Primo Water Co. will post 0.82 EPS for the current fiscal year.

Primo Water Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.90%. Primo Water’s dividend payout ratio is 24.16%.

Primo Water 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.