Primo Water Co. (NASDAQ:PRMW) insider Camden Partners Strategic Fund sold 13,249 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $13.85, for a total value of $183,498.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Primo Water Co. (NASDAQ:PRMW) traded up 0.75% during trading on Monday, hitting $13.44. The company had a trading volume of 110,054 shares. The stock has a 50-day moving average of $14.47 and a 200 day moving average of $13.08. The company’s market capitalization is $397.46 million. Primo Water Co. has a one year low of $9.10 and a one year high of $15.39.
Primo Water (NASDAQ:PRMW) last announced its quarterly earnings results on Wednesday, March 15th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.25. The firm had revenue of $40.40 million for the quarter, compared to the consensus estimate of $37.85 million. Primo Water had a return on equity of 24.69% and a net margin of 4.34%. The business’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 earnings per share. Equities analysts forecast that Primo Water Co. will post ($0.06) EPS for the current fiscal year.
A number of brokerages have commented on PRMW. B. Riley reiterated a “buy” rating and issued a $16.50 price objective on shares of Primo Water in a research report on Sunday, January 15th. Barrington Research reiterated an “outperform” rating and issued a $16.50 price objective (up previously from $15.00) on shares of Primo Water in a research report on Thursday, March 16th. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, January 13th. Finally, Lake Street Capital restated a “buy” rating and set a $20.00 target price (up previously from $16.50) on shares of Primo Water in a research report on Thursday, March 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.50.
Institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP acquired a new position in shares of Primo Water during the fourth quarter worth $135,000. State Street Corp increased its position in shares of Primo Water by 4.0% in the fourth quarter. State Street Corp now owns 312,245 shares of the company’s stock worth $3,834,000 after buying an additional 12,108 shares during the period. Bessemer Group Inc. acquired a new position in shares of Primo Water during the fourth quarter worth $177,000. Russell Investments Group Ltd. acquired a new position in shares of Primo Water during the fourth quarter worth $2,941,000. Finally, SG Capital Management LLC increased its position in shares of Primo Water by 156.4% in the third quarter. SG Capital Management LLC now owns 525,700 shares of the company’s stock worth $6,377,000 after buying an additional 320,647 shares during the period. 56.78% of the stock is currently owned by hedge funds and other institutional investors.
Primo Water 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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