Russell Investments Group Ltd. Raises Position in Primo Water Co. (NYSE:PRMW)

Russell Investments Group Ltd. raised its stake in shares of Primo Water Co. (NYSE:PRMWGet Rating) by 37.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 812,031 shares of the company’s stock after purchasing an additional 220,332 shares during the period. Russell Investments Group Ltd.’s holdings in Primo Water were worth $11,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRMW. Envestnet Asset Management Inc. grew its stake in shares of Primo Water by 194.5% during the first quarter. Envestnet Asset Management Inc. now owns 42,660 shares of the company’s stock valued at $608,000 after buying an additional 28,173 shares during the last quarter. Comerica Bank boosted its position in Primo Water by 22.9% during the 1st quarter. Comerica Bank now owns 46,135 shares of the company’s stock valued at $683,000 after acquiring an additional 8,600 shares in the last quarter. Pendal Group Ltd boosted its position in Primo Water by 33.5% during the 1st quarter. Pendal Group Ltd now owns 270,145 shares of the company’s stock valued at $3,849,000 after acquiring an additional 67,745 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Primo Water during the 1st quarter valued at $838,000. Finally, Strs Ohio boosted its position in Primo Water by 3.1% during the 1st quarter. Strs Ohio now owns 77,600 shares of the company’s stock valued at $1,105,000 after acquiring an additional 2,300 shares in the last quarter. 93.36% of the stock is currently owned by hedge funds and other institutional investors.

Primo Water Stock Performance

Shares of PRMW stock opened at $12.71 on Friday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -635.50 and a beta of 1.33. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.72 and a quick ratio of 0.58. The business has a fifty day moving average of $13.37 and a 200 day moving average of $14.34. Primo Water Co. has a 1 year low of $12.46 and a 1 year high of $20.12.

Primo Water (NYSE:PRMWGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Primo Water had a positive return on equity of 5.33% and a negative net margin of 0.15%. The business had revenue of $526.10 million during the quarter, compared to analyst estimates of $516.19 million. During the same quarter last year, the business posted $0.05 EPS. The company’s revenue was up 10.0% on a year-over-year basis. As a group, research analysts expect that Primo Water Co. will post 0.52 earnings per share for the current year.

Primo Water Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Friday, June 10th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Thursday, June 9th. Primo Water’s dividend payout ratio (DPR) is -1,400.00%.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft dropped their target price on Primo Water from $18.00 to $16.00 in a research report on Friday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.00.

About Primo Water

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Primo Water Corporation provides water direct to consumers and water filtration services in North America and Europe. It offers bottled water, purified bottled water, premium spring, sparkling and flavored water, mineral water, filtration equipment, and coffee; as well as water dispensers, and self-service refill drinking water.

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Institutional Ownership by Quarter for Primo Water (NYSE:PRMW)

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