Eagle Asset Management Inc. Trims Holdings in Primo Water Co. (NYSE:PRMW)

Eagle Asset Management Inc. decreased its position in Primo Water Co. (NYSE:PRMW) by 34.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,049 shares of the company’s stock after selling 134,249 shares during the period. Eagle Asset Management Inc. owned approximately 0.16% of Primo Water worth $6,199,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Primo Water by 375.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock valued at $31,000 after buying an additional 981 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Primo Water by 52.1% during the third quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Primo Water during the third quarter valued at $48,000. CWM LLC grew its stake in Primo Water by 31.5% in the third quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of Primo Water during the second quarter worth about $109,000. Institutional investors own 87.71% of the company’s stock.

Primo Water Stock Performance

Shares of Primo Water stock opened at $24.21 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 12 month low of $14.06 and a 12 month high of $28.06. The business has a fifty day simple moving average of $25.54 and a 200-day simple moving average of $23.21. The stock has a market cap of $3.88 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Primo Water Dividend Announcement

The firm also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $0.82 dividend. The ex-dividend date was Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s payout ratio is presently 22.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRMW. StockNews.com initiated coverage on Primo Water in a report on Wednesday, November 20th. They issued a “buy” rating for the company. Raymond James cut Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Finally, William Blair started coverage on Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.