California Public Employees Retirement System raised its holdings in Primo Water Co. (NASDAQ:PRMW) by 6.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 63,305 shares of the company’s stock after acquiring an additional 3,600 shares during the period. California Public Employees Retirement System’s holdings in Primo Water were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRMW. First Trust Advisors LP acquired a new stake in Primo Water in the 1st quarter valued at approximately $4,509,000. SG Americas Securities LLC grew its holdings in Primo Water by 97.9% in the 2nd quarter. SG Americas Securities LLC now owns 103,822 shares of the company’s stock valued at $1,277,000 after buying an additional 51,367 shares during the last quarter. Aperio Group LLC acquired a new stake in Primo Water in the 2nd quarter valued at approximately $35,000. Trellus Management Company LLC acquired a new stake in Primo Water in the 2nd quarter valued at approximately $218,000. Finally, Wells Fargo & Company MN grew its holdings in Primo Water by 7.2% in the 2nd quarter. Wells Fargo & Company MN now owns 174,133 shares of the company’s stock valued at $2,143,000 after buying an additional 11,733 shares during the last quarter. 85.68% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on PRMW shares. Lake Street Capital lowered Primo Water from a “buy” rating to a “hold” rating and lowered their target price for the company from $18.00 to $14.00 in a report on Wednesday, November 6th. BidaskClub lowered Primo Water from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Northland Securities started coverage on Primo Water in a report on Friday, November 15th. They issued a “buy” rating and a $16.00 target price on the stock. Barrington Research reaffirmed a “buy” rating and issued a $15.00 target price on shares of Primo Water in a report on Wednesday, November 6th. Finally, B. Riley reaffirmed a “buy” rating and issued a $18.00 target price on shares of Primo Water in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Primo Water presently has an average rating of “Hold” and a consensus target price of $16.17.
Primo Water (NASDAQ:PRMW) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07). Primo Water had a return on equity of 7.11% and a net margin of 1.29%. The firm had revenue of $86.97 million for the quarter, compared to analyst estimates of $84.78 million. On average, sell-side analysts predict that Primo Water Co. will post 0.12 EPS for the current year.
Primo Water Company Profile
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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