Sheets Smith Wealth Management boosted its stake in shares of Primo Water Corporation (NASDAQ:PRMW) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,722 shares of the company’s stock after buying an additional 2,090 shares during the period. Sheets Smith Wealth Management’s holdings in Primo Water Corporation were worth $187,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of Primo Water Corporation by 110.3% in the first quarter. US Bancorp DE now owns 9,884 shares of the company’s stock valued at $135,000 after buying an additional 5,184 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Primo Water Corporation by 2.9% in the first quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock valued at $145,000 after buying an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Primo Water Corporation during the first quarter valued at about $147,000. Citadel Advisors LLC purchased a new stake in shares of Primo Water Corporation during the first quarter valued at about $156,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Primo Water Corporation during the fourth quarter valued at about $149,000. Institutional investors and hedge funds own 57.82% of the company’s stock.
Primo Water Corporation (NASDAQ PRMW) opened at 13.02 on Monday. The firm’s market capitalization is $389.10 million. The stock’s 50 day moving average price is $12.95 and its 200-day moving average price is $13.04. Primo Water Corporation has a one year low of $10.74 and a one year high of $15.39.
Primo Water Corporation (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.09. Primo Water Corporation had a negative net margin of 11.02% and a negative return on equity of 38.63%. The business had revenue of $60.70 million during the quarter, compared to analyst estimates of $64.56 million. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 88.0% on a year-over-year basis. On average, equities research analysts expect that Primo Water Corporation will post ($0.20) EPS for the current fiscal year.
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Several brokerages have recently issued reports on PRMW. B. Riley reiterated a “buy” rating and set a $17.50 price target on shares of Primo Water Corporation in a report on Monday, May 8th. Zacks Investment Research upgraded Primo Water Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. BMO Capital Markets restated a “market perform” rating on shares of Primo Water Corporation in a report on Friday, June 9th. Finally, Barrington Research boosted their target price on Primo Water Corporation from $16.50 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Primo Water Corporation presently has an average rating of “Hold” and a consensus price target of $17.10.
In other news, insider Camden Partners Strategic Fund sold 7,985 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $13.50, for a total value of $107,797.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 2,750 shares of company stock valued at $30,050. Insiders own 15.80% of the company’s stock.
Primo Water Corporation Company Profile
Primo Water Corporation (Primo) provides 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. It operates through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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