Wells Fargo & Company MN Grows Holdings in Primo Water Co. (PRMW)

Wells Fargo & Company MN increased its position in shares of Primo Water Co. (NASDAQ:PRMW) by 14.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 127,157 shares of the company’s stock after purchasing an additional 16,006 shares during the quarter. Wells Fargo & Company MN’s holdings in Primo Water were worth $1,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PRMW. Schwab Charles Investment Management Inc. raised its position in shares of Primo Water by 42.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,200 shares of the company’s stock valued at $625,000 after buying an additional 14,600 shares during the period. Rhumbline Advisers raised its position in shares of Primo Water by 19.6% during the 2nd quarter. Rhumbline Advisers now owns 26,995 shares of the company’s stock valued at $343,000 after buying an additional 4,425 shares during the period. Bank of New York Mellon Corp raised its position in shares of Primo Water by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,540 shares of the company’s stock valued at $1,302,000 after buying an additional 2,490 shares during the period. Alliancebernstein L.P. purchased a new stake in shares of Primo Water during the 2nd quarter valued at approximately $218,000. Finally, Teachers Advisors LLC raised its position in shares of Primo Water by 9.2% during the 2nd quarter. Teachers Advisors LLC now owns 48,160 shares of the company’s stock valued at $612,000 after buying an additional 4,077 shares during the period. 68.61% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director David L. Warnock sold 33,226 shares of Primo Water stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $12.37, for a total value of $411,005.62. Following the completion of the sale, the director now owns 25,157 shares in the company, valued at approximately $311,192.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Castaneda sold 6,200 shares of Primo Water stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.45, for a total transaction of $83,390.00. Following the completion of the sale, the chief financial officer now owns 236,113 shares of the company’s stock, valued at approximately $3,175,719.85. The disclosure for this sale can be found here. Insiders sold a total of 130,295 shares of company stock valued at $1,636,440 in the last quarter. 15.80% of the stock is owned by insiders.

Shares of Primo Water Co. (PRMW) opened at $13.10 on Friday. Primo Water Co. has a 1-year low of $10.47 and a 1-year high of $15.39. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.99 and a quick ratio of 0.82.

Primo Water (NASDAQ:PRMW) last posted its earnings results on Tuesday, November 7th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ 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 forecast that Primo Water Co. will post -0.26 EPS for the current fiscal year.

PRMW has been the topic of several analyst reports. Zacks Investment Research raised shares of Primo Water from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, November 10th. B. Riley reaffirmed a “buy” rating and set a $17.50 price target on shares of Primo Water in a research report on Wednesday, November 8th. BidaskClub raised shares of Primo Water from a “sell” rating to a “hold” rating in a research report on Thursday, December 21st. Barrington Research lifted their price target on shares of Primo Water from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, November 8th. Finally, ValuEngine lowered shares of Primo Water from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.10.

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

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