California State Teachers Retirement System acquired a new position in Primo Water Corp. (NASDAQ:PRMW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,279 shares of the company’s stock, valued at approximately $523,000. California State Teachers Retirement System owned 0.17% of Primo Water Corp. as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Partners VI LLC purchased a new stake in shares of Primo Water Corp. during the first quarter valued at $106,000. Menta Capital LLC purchased a new stake in shares of Primo Water Corp. during the first quarter valued at $226,000. Algert Global LLC boosted its stake in shares of Primo Water Corp. by 128.5% in the first quarter. Algert Global LLC now owns 25,935 shares of the company’s stock valued at $262,000 after buying an additional 14,585 shares in the last quarter. Barclays PLC boosted its stake in shares of Primo Water Corp. by 65.4% in the first quarter. Barclays PLC now owns 52,600 shares of the company’s stock valued at $526,000 after buying an additional 20,800 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Primo Water Corp. by 129.2% in the second quarter. Bank of New York Mellon Corp now owns 77,477 shares of the company’s stock valued at $914,000 after buying an additional 43,677 shares in the last quarter. 64.59% of the stock is currently owned by institutional investors and hedge funds.
Primo Water Corp. (NASDAQ:PRMW) traded down 1.09% during midday trading on Friday, reaching $11.85. The company’s stock had a trading volume of 90,133 shares. Primo Water Corp. has a 1-year low of $7.39 and a 1-year high of $12.59. The stock’s 50-day moving average price is $11.80 and its 200 day moving average price is $11.35. The firm has a market capitalization of $308.46 million, a PE ratio of 73.15 and a beta of 0.04.
Primo Water Corp. (NASDAQ:PRMW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. Primo Water Corp. had a return on equity of 22.31% and a net margin of 3.53%. The business earned $34.40 million during the quarter, compared to analysts’ expectations of $33.86 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Primo Water Corp. will post $0.24 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on PRMW shares. Zacks Investment Research upgraded Primo Water Corp. from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, August 9th. B. Riley restated a “buy” rating and set a $13.00 price objective on shares of Primo Water Corp. in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Primo Water Corp. presently has an average rating of “Buy” and a consensus price target of $12.50.
About Primo Water Corp.
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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