Russell Investments Group Ltd. grew its stake in shares of Primo Water Co. (NASDAQ:PRMW) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,633 shares of the company’s stock after buying an additional 8,664 shares during the period. Russell Investments Group Ltd.’s holdings in Primo Water were worth $1,473,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Primo Water by 15.9% during the second quarter. Rhumbline Advisers now owns 26,460 shares of the company’s stock valued at $463,000 after buying an additional 3,626 shares during the period. Cornerstone Wealth Management LLC bought a new stake in shares of Primo Water during the second quarter valued at about $208,000. Martingale Asset Management L P bought a new stake in shares of Primo Water during the second quarter valued at about $186,000. Schwab Charles Investment Management Inc. increased its position in shares of Primo Water by 20.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 63,921 shares of the company’s stock valued at $1,118,000 after buying an additional 10,716 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Primo Water by 5,864.6% during the second quarter. Bank of Montreal Can now owns 11,452 shares of the company’s stock valued at $200,000 after buying an additional 11,260 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.
Several brokerages have recently weighed in on PRMW. Zacks Investment Research upgraded Primo Water from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, August 29th. BidaskClub upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. B. Riley decreased their price target on Primo Water from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Barrington Research reiterated a “buy” rating and set a $20.00 price target on shares of Primo Water in a research report on Wednesday, November 7th. Finally, BMO Capital Markets cut their price objective on Primo Water from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $19.20.
Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Primo Water had a positive return on equity of 10.31% and a negative net margin of 17.88%. The company had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.26 million. During the same period last year, the firm posted $0.15 earnings per share. Primo Water’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that Primo Water Co. will post 0.32 earnings per share for the current year.
Primo Water Company Profile
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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