Primo Water Co. (PRMW) VP Michael Cauthen Sells 1,859 Shares

Primo Water Co. (NASDAQ:PRMW) VP Michael Cauthen sold 1,859 shares of the business’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $14.53, for a total value of $27,011.27. Following the transaction, the vice president now directly owns 5,456 shares in the company, valued at $79,275.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NASDAQ:PRMW opened at $14.92 on Thursday. The firm has a market cap of $563.00 million, a PE ratio of -53.29, a P/E/G ratio of 2.47 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.94. Primo Water Co. has a fifty-two week low of $11.16 and a fifty-two week high of $20.72.

Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 6th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Primo Water had a positive return on equity of 10.31% and a negative net margin of 17.88%. The firm had revenue of $81.80 million during the quarter, compared to the consensus estimate of $83.26 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, research analysts expect that Primo Water Co. will post 0.32 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. Akre Capital Management LLC lifted its position in shares of Primo Water by 48.6% during the 2nd quarter. Akre Capital Management LLC now owns 2,843,220 shares of the company’s stock worth $49,728,000 after buying an additional 930,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of Primo Water by 22.5% during the 3rd quarter. BlackRock Inc. now owns 2,211,916 shares of the company’s stock worth $39,926,000 after buying an additional 406,920 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Primo Water by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,460,570 shares of the company’s stock worth $26,363,000 after buying an additional 51,372 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Primo Water by 3.6% during the 3rd quarter. Vanguard Group Inc now owns 1,460,570 shares of the company’s stock worth $26,363,000 after buying an additional 51,372 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Primo Water by 1,225.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,223,762 shares of the company’s stock worth $22,089,000 after purchasing an additional 1,131,412 shares in the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

Several research firms recently issued reports on PRMW. BidaskClub downgraded Primo Water from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. B. Riley cut their target price on Primo Water from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, November 7th. Barrington Research reiterated a “buy” rating and set a $20.00 target price on shares of Primo Water in a research report on Wednesday, November 7th. Zacks Investment Research downgraded Primo Water from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, BMO Capital Markets cut their target price on Primo Water from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Wednesday, October 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.20.

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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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