Schwab Charles Investment Management Inc. Boosts Stake in Primo Water Corporation (PRMW)
Schwab Charles Investment Management Inc. lifted its position in Primo Water Corporation (NASDAQ:PRMW) by 42.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,200 shares of the company’s stock after purchasing an additional 14,600 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.16% of Primo Water Corporation worth $625,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PRMW. HighTower Advisors LLC boosted its holdings in shares of Primo Water Corporation by 2.9% in the 1st quarter. HighTower Advisors LLC now owns 10,600 shares of the company’s stock worth $145,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Primo Water Corporation in the 1st quarter worth about $147,000. US Bancorp DE boosted its holdings in shares of Primo Water Corporation by 23.0% in the 2nd quarter. US Bancorp DE now owns 12,159 shares of the company’s stock worth $155,000 after purchasing an additional 2,275 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Primo Water Corporation in the 1st quarter worth about $156,000. Finally, American International Group Inc. boosted its holdings in shares of Primo Water Corporation by 7.5% in the 1st quarter. American International Group Inc. now owns 13,052 shares of the company’s stock worth $177,000 after purchasing an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.
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Several equities research analysts recently weighed in on the company. B. Riley restated a “buy” rating and set a $17.50 target price on shares of Primo Water Corporation in a report on Monday, August 7th. Zacks Investment Research cut Primo Water Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine cut Primo Water Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, BidaskClub upgraded Primo Water Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Primo Water Corporation has a consensus rating of “Hold” and a consensus target price of $17.38.
Shares of Primo Water Corporation (NASDAQ PRMW) opened at $11.01 on Friday. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.64 and a current ratio of 0.83.
Primo Water Corporation (NASDAQ:PRMW) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). Primo Water Corporation had a negative return on equity of 42.49% and a negative net margin of 11.15%. The firm had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $73.20 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Primo Water Corporation’s revenue for the quarter was up 117.4% compared to the same quarter last year. sell-side analysts forecast that Primo Water Corporation will post -0.31 EPS for the current year.
In related news, insider Billy D. Prim sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $12.16, for a total transaction of $12,160,000.00. Following the completion of the sale, the insider now directly owns 1,980,927 shares in the company, valued at approximately $24,088,072.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Malcolm Mcquilkin sold 13,714 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $11.70, for a total value of $160,453.80. Following the sale, the director now owns 101,246 shares of the company’s stock, valued at $1,184,578.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,040,858 shares of company stock valued at $12,639,169 over the last 90 days. 15.80% of the stock is currently owned by company insiders.
Primo Water Corporation Company Profile
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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