Sheets Smith Wealth Management raised its position in shares of Primo Water Corporation (NASDAQ:PRMW) by 16.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE increased its position 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 worth $135,000 after buying an additional 5,184 shares during the last quarter. HighTower Advisors LLC increased 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 during 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. Highbridge Capital Management LLC purchased a new stake in shares of Primo Water Corporation during the fourth quarter valued at about $149,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Primo Water Corporation during the first quarter valued at about $156,000. 58.01% of the stock is owned by hedge funds and other institutional investors.
Primo Water Corporation (NASDAQ PRMW) opened at 12.14 on Friday. The stock’s market capitalization is $406.24 million. The stock’s 50 day moving average is $12.69 and its 200-day moving average is $13.05. Primo Water Corporation has a 12 month low of $10.74 and a 12 month high of $15.39.
Primo Water Corporation (NASDAQ:PRMW) last released its earnings results on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.09. The business had revenue of $74.80 million for the quarter, compared to analyst estimates of $73.20 million. Primo Water Corporation had a negative return on equity of 44.11% and a negative net margin of 11.15%. Primo Water Corporation’s quarterly revenue was up 117.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. On average, equities research analysts expect that Primo Water Corporation will post ($0.31) earnings per share for the current year.
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PRMW has been the subject of several analyst reports. B. Riley reissued a “buy” rating and issued a $17.50 price objective on shares of Primo Water Corporation in a research note on Monday, May 8th. Barrington Research raised their price objective on shares of Primo Water Corporation from $16.50 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 10th. Zacks Investment Research downgraded shares of Primo Water Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. ValuEngine raised shares of Primo Water Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Primo Water Corporation in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.10.
In other Primo Water Corporation news, insider Camden Partners Strategic Fund sold 7,985 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $13.50, for a total transaction of $107,797.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have acquired 2,750 shares of company stock worth $30,050. 15.80% of the stock is owned by company insiders.
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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