Tobam Sells 104,296 Shares of Primo Water Co. (NYSE:PRMW)

Tobam lessened its stake in Primo Water Co. (NYSE:PRMW - Free Report) by 86.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,075 shares of the company's stock after selling 104,296 shares during the period. Tobam's holdings in Primo Water were worth $243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in shares of Primo Water in the first quarter valued at about $36,000. Point72 Middle East FZE purchased a new stake in Primo Water in the 4th quarter valued at approximately $54,000. PNC Financial Services Group Inc. increased its position in Primo Water by 26.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the company's stock worth $52,000 after purchasing an additional 853 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of Primo Water by 209.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,825 shares of the company's stock worth $90,000 after buying an additional 3,945 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Primo Water during the 3rd quarter worth approximately $102,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PRMW shares. Raymond James lowered Primo Water from a "strong-buy" rating to an "outperform" rating and set a $21.00 price objective on the stock. in a report on Wednesday, April 3rd. StockNews.com downgraded shares of Primo Water from a "strong-buy" rating to a "buy" rating in a report on Sunday, February 18th. TD Securities decreased their price objective on shares of Primo Water from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Primo Water from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Tuesday, February 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $20.75.

Primo Water Price Performance

Shares of Primo Water stock traded up $0.03 on Thursday, hitting $17.76. The company's stock had a trading volume of 568,640 shares, compared to its average volume of 1,008,803. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $16.62 and a 200-day moving average price of $15.17. Primo Water Co. has a 52-week low of $12.27 and a 52-week high of $18.49. The company has a market capitalization of $2.86 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.69 and a beta of 1.12.

Primo Water (NYSE:PRMW - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.10). Primo Water had a net margin of 10.82% and a return on equity of 8.55%. The business had revenue of $438.70 million during the quarter, compared to analyst estimates of $582.93 million. On average, equities research analysts expect that Primo Water Co. will post 0.82 earnings per share for the current fiscal year.

Primo Water Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from Primo Water's previous quarterly dividend of $0.08. The ex-dividend date was Thursday, March 7th. Primo Water's payout ratio is 24.16%.

About Primo Water

Primo Water Corporation provides pure-play water solutions for residential and commercial customers. It offers bottled water, water dispensers, purified bottled water, self-service refill drinking water, premium spring, mineral water, sparkling and flavored essence water, filtration units, and coffee.