Legion Partners Asset Management LLC acquired a new stake in shares of Primo Water Co. (NASDAQ:PRMW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 602,687 shares of the company’s stock, valued at approximately $7,576,000. Primo Water accounts for approximately 2.4% of Legion Partners Asset Management LLC’s holdings, making the stock its 11th largest holding. Legion Partners Asset Management LLC owned 2.01% of Primo Water as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRMW. Millennium Management LLC lifted its holdings in shares of Primo Water by 224.6% during the 4th quarter. Millennium Management LLC now owns 891,838 shares of the company’s stock valued at $11,210,000 after acquiring an additional 617,077 shares in the last quarter. Northpointe Capital LLC acquired a new position in shares of Primo Water during the 4th quarter valued at $4,895,000. North Fourth Asset Management LP acquired a new position in shares of Primo Water during the 4th quarter valued at $4,292,000. Elk Creek Partners LLC lifted its holdings in shares of Primo Water by 22.8% during the 3rd quarter. Elk Creek Partners LLC now owns 761,585 shares of the company’s stock valued at $9,025,000 after acquiring an additional 141,586 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Primo Water by 501.6% during the 4th quarter. Deutsche Bank AG now owns 166,834 shares of the company’s stock valued at $2,096,000 after acquiring an additional 139,104 shares in the last quarter. 70.12% of the stock is owned by institutional investors.
In other Primo Water news, insider Camden Partners Strategic Fund sold 58,383 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $12.35, for a total value of $721,030.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David L. Warnock sold 33,226 shares of the business’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $12.37, for a total transaction of $411,005.62. Following the completion of the transaction, the director now owns 25,157 shares in the company, valued at approximately $311,192.09. The disclosure for this sale can be found here. Insiders sold a total of 93,526 shares of company stock worth $1,155,653 in the last quarter. 15.80% of the stock is currently owned by company insiders.
Primo Water stock opened at $11.76 on Monday. Primo Water Co. has a 1-year low of $10.47 and a 1-year high of $14.49. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $362.88, a price-to-earnings ratio of -56.00, a price-to-earnings-growth ratio of 4.52 and a beta of -0.19.
Several equities analysts recently weighed in on the stock. BidaskClub lowered shares of Primo Water from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Zacks Investment Research lowered shares of Primo Water from a “hold” rating to a “sell” rating in a report on Friday, March 9th. B. Riley set a $18.00 price objective on shares of Primo Water and gave the stock a “buy” rating in a report on Monday, March 5th. Finally, ValuEngine upgraded shares of Primo Water from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.50.
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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).
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