Shares of Primo Water Co. (NASDAQ:PRMW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.08 and last traded at $17.93, with a volume of 6621 shares changing hands. The stock had previously closed at $17.74.
A number of analysts have recently issued reports on the company. BidaskClub upgraded Primo Water from a “buy” rating to a “strong-buy” rating in a report on Friday, June 1st. BMO Capital Markets increased their target price on Primo Water from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, May 24th. William Blair assumed coverage on Primo Water in a report on Thursday, May 24th. They issued an “outperform” rating for the company. Barrington Research restated a “buy” rating and issued a $20.00 target price on shares of Primo Water in a report on Wednesday, May 9th. Finally, ValuEngine raised shares of Primo Water from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Primo Water currently has an average rating of “Buy” and a consensus target price of $17.50.
The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.90 and a current ratio of 1.05. The company has a market capitalization of $553.70 million, a price-to-earnings ratio of -63.43, a price-to-earnings-growth ratio of 4.43 and a beta of -0.17.
In other news, CFO David J. Mills sold 5,934 shares of the stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $13.50, for a total value of $80,109.00. Following the transaction, the chief financial officer now owns 79,624 shares in the company, valued at approximately $1,074,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David J. Mills sold 2,336 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $15.00, for a total transaction of $35,040.00. Following the completion of the transaction, the chief financial officer now owns 64,682 shares in the company, valued at approximately $970,230. The disclosure for this sale can be found here. Insiders sold a total of 27,618 shares of company stock worth $387,780 in the last quarter. Company insiders own 13.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Primo Water by 8.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 53,205 shares of the company’s stock worth $669,000 after purchasing an additional 4,005 shares during the period. D.A. Davidson & CO. increased its holdings in Primo Water by 13.3% in the 1st quarter. D.A. Davidson & CO. now owns 35,290 shares of the company’s stock worth $413,000 after acquiring an additional 4,145 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in Primo Water by 23.7% in the 1st quarter. Thompson Davis & CO. Inc. now owns 21,625 shares of the company’s stock worth $253,000 after acquiring an additional 4,150 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Primo Water by 5.6% in the 4th quarter. Bank of New York Mellon Corp now owns 110,997 shares of the company’s stock worth $1,395,000 after acquiring an additional 5,857 shares in the last quarter. Finally, 1492 Capital Management LLC increased its holdings in Primo Water by 10.0% in the 4th quarter. 1492 Capital Management LLC now owns 71,479 shares of the company’s stock worth $898,000 after acquiring an additional 6,484 shares in the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.
About Primo Water
Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. It operates in three segments: Refill, Exchange, and Dispensers. The Refill segment sells filtered drinking water dispensed directly to consumers through self-service machines.
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