Legal & General Group Plc boosted its holdings in shares of Primo Water Co. (NASDAQ:PRMW) by 1,057.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,061 shares of the company’s stock after buying an additional 86,848 shares during the quarter. Legal & General Group Plc owned 0.06% of Primo Water worth $853,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in Primo Water in the 4th quarter valued at $30,000. Great West Life Assurance Co. Can acquired a new stake in Primo Water in the 4th quarter valued at $38,000. Bank of Montreal Can grew its stake in Primo Water by 44.8% in the 4th quarter. Bank of Montreal Can now owns 4,449 shares of the company’s stock valued at $50,000 after acquiring an additional 1,376 shares during the period. Marshall Wace North America L.P. acquired a new stake in Primo Water in the 4th quarter valued at $68,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Primo Water in the 1st quarter valued at $52,000. 85.03% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on PRMW shares. Zacks Investment Research raised shares of Primo Water from a “sell” rating to a “hold” rating in a research note on Friday, June 26th. Deutsche Bank lifted their target price on shares of Primo Water from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Veritas Investment Research cut shares of Primo Water from a “buy” rating to a “sell” rating in a research note on Thursday, April 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 target price on shares of Primo Water in a research note on Friday, May 8th. Finally, CIBC lowered their target price on shares of Primo Water from $17.00 to $12.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $15.39.
Primo Water (NASDAQ:PRMW) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $474.20 million during the quarter, compared to analysts’ expectations of $462.98 million. Primo Water had a net margin of 1.29% and a return on equity of 7.11%. Research analysts expect that Primo Water Co. will post 0.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, June 5th were issued a $0.06 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.24 annualized dividend and a yield of 1.75%. Primo Water’s dividend payout ratio (DPR) is currently 70.59%.
About Primo Water
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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