Thematics Asset Management Sells 260,000 Shares of Primo Water Co. (NYSE:PRMW)

Thematics Asset Management reduced its holdings in Primo Water Co. (NYSE:PRMW) by 48.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 278,442 shares of the company’s stock after selling 260,000 shares during the quarter. Thematics Asset Management owned about 0.17% of Primo Water worth $7,031,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Primo Water by 375.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,242 shares of the company’s stock worth $31,000 after purchasing an additional 981 shares in the last quarter. Blue Trust Inc. grew its position in Primo Water by 52.1% in the 3rd quarter. Blue Trust Inc. now owns 1,871 shares of the company’s stock worth $47,000 after purchasing an additional 641 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Primo Water in the third quarter valued at approximately $48,000. CWM LLC increased its position in shares of Primo Water by 31.5% during the 3rd quarter. CWM LLC now owns 3,310 shares of the company’s stock valued at $84,000 after purchasing an additional 792 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in Primo Water during the second quarter worth about $109,000. 87.71% of the stock is currently owned by institutional investors.

Primo Water Trading Down 0.9 %

Shares of Primo Water stock traded down $0.23 during trading on Tuesday, reaching $24.21. The company’s stock had a trading volume of 11,422,300 shares, compared to its average volume of 1,320,823. The company has a quick ratio of 2.07, a current ratio of 2.18 and a debt-to-equity ratio of 0.86. Primo Water Co. has a 52-week low of $14.06 and a 52-week high of $28.06. The firm’s 50-day moving average is $25.54 and its two-hundred day moving average is $23.23. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10.

Primo Water Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $0.82 dividend. The ex-dividend date was Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio is currently 22.36%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRMW. William Blair started coverage on shares of Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating for the company. StockNews.com assumed coverage on shares of Primo Water in a report on Tuesday. They issued a “buy” rating for the company. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of Primo Water in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Primo Water currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Primo Water Profile

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.