Emerald Acquisition Ltd. purchased a new position in shares of Primo Water Corp. (NASDAQ:PRMW) during the second quarter, Holdings Channel reports. The firm purchased 64,606 shares of the company’s stock, valued at approximately $763,000. Emerald Acquisition Ltd. owned about 0.25% of Primo Water Corp. at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in Primo Water Corp. by 2.2% in the first quarter. Wellington Management Group LLP now owns 672,450 shares of the company’s stock worth $6,785,000 after buying an additional 14,350 shares during the last quarter. Geode Capital Management LLC raised its stake in Primo Water Corp. by 31.0% in the first quarter. Geode Capital Management LLC now owns 149,029 shares of the company’s stock worth $1,503,000 after buying an additional 35,225 shares during the last quarter. BlackRock Group LTD raised its stake in Primo Water Corp. by 538.8% in the first quarter. BlackRock Group LTD now owns 96,308 shares of the company’s stock worth $972,000 after buying an additional 81,231 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 worth $914,000 after buying an additional 43,677 shares during the last quarter. Finally, Barclays PLC raised its position 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. 64.59% of the stock is owned by institutional investors and hedge funds.
Primo Water Corp. (NASDAQ:PRMW) remained flat at $13.75 on Friday. The stock had a trading volume of 34,453 shares. The firm has a market cap of $357.91 million, a PE ratio of 84.88 and a beta of 0.04. The company’s 50-day moving average price is $11.97 and its 200 day moving average price is $11.46. Primo Water Corp. has a one year low of $7.39 and a one year high of $13.88.
Primo Water Corp. (NASDAQ:PRMW) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm had revenue of $34.40 million for the quarter, compared to analyst estimates of $33.86 million. Primo Water Corp. had a net margin of 3.53% and a return on equity of 22.31%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. Analysts predict that Primo Water Corp. will post $0.24 earnings per share for the current year.
PRMW has been the subject of several recent analyst reports. Barrington Research raised their price objective on shares of Primo Water Corp. from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Investment Research lowered shares of Primo Water Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, B. Riley raised their price objective on shares of Primo Water Corp. from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday. 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. The stock currently has a consensus rating of “Buy” and an average target price of $13.75.
Primo Water Corp. Company Profile
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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