Wells Fargo & Company MN Raises Position in Primo Water Co. (PRMW)

Wells Fargo & Company MN boosted its stake in Primo Water Co. (NASDAQ:PRMW) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,157 shares of the company’s stock after buying an additional 16,006 shares during the quarter. Wells Fargo & Company MN owned approximately 0.43% of Primo Water worth $1,507,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. 1492 Capital Management LLC lifted its stake in Primo Water by 43.0% in the 3rd quarter. 1492 Capital Management LLC now owns 64,995 shares of the company’s stock valued at $770,000 after buying an additional 19,542 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Primo Water by 10.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 493,996 shares of the company’s stock valued at $5,641,000 after buying an additional 46,804 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Primo Water by 5.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 343,444 shares of the company’s stock valued at $4,070,000 after buying an additional 17,429 shares in the last quarter. Redmond Asset Management LLC purchased a new position in Primo Water in the 3rd quarter valued at about $586,000. Finally, Monarch Partners Asset Management LLC lifted its stake in Primo Water by 21.8% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 262,673 shares of the company’s stock valued at $3,113,000 after buying an additional 46,943 shares in the last quarter. 68.61% of the stock is currently owned by hedge funds and other institutional investors.

Primo Water Co. (NASDAQ:PRMW) opened at $13.10 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 3.99. Primo Water Co. has a 12 month low of $10.47 and a 12 month high of $15.39.

Primo Water (NASDAQ:PRMW) last released its earnings results on Tuesday, November 7th. The company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. Primo Water had a negative net margin of 8.17% and a negative return on equity of 32.85%. research analysts expect that Primo Water Co. will post -0.26 EPS for the current year.

In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $12.35, for a total value of $721,030.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark Castaneda sold 6,200 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $13.45, for a total transaction of $83,390.00. Following the completion of the transaction, the chief financial officer now directly owns 236,113 shares in the company, valued at $3,175,719.85. The disclosure for this sale can be found here. Insiders sold a total of 130,295 shares of company stock worth $1,636,440 over the last three months. Corporate insiders own 15.80% of the company’s stock.

PRMW has been the topic of a number of research reports. Zacks Investment Research raised shares of Primo Water from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub lowered shares of Primo Water from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. B. Riley reaffirmed a “buy” rating and issued a $17.50 price target on shares of Primo Water in a research note on Wednesday, November 8th. Barrington Research raised their price target on shares of Primo Water from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, ValuEngine lowered shares of Primo Water from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Primo Water has an average rating of “Hold” and a consensus price target of $17.10.

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About Primo Water

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).

Institutional Ownership by Quarter for Primo Water (NASDAQ:PRMW)

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