Chartwell Investment Partners LLC Decreases Position in Primo Water Co. (NYSE:PRMW)

Chartwell Investment Partners LLC reduced its position in shares of Primo Water Co. (NYSE:PRMW) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,016 shares of the company’s stock after selling 34,421 shares during the period. Chartwell Investment Partners LLC owned 0.19% of Primo Water worth $7,752,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PRMW. Allspring Global Investments Holdings LLC boosted its position in Primo Water by 0.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock worth $96,647,000 after acquiring an additional 32,875 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Primo Water by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock worth $34,868,000 after purchasing an additional 49,500 shares during the last quarter. TD Asset Management Inc grew its position in shares of Primo Water by 27.3% in the second quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock valued at $30,623,000 after purchasing an additional 300,929 shares in the last quarter. Intact Investment Management Inc. increased its holdings in shares of Primo Water by 43.6% in the third quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Primo Water by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,362,600 shares of the company’s stock worth $29,788,000 after buying an additional 53,241 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Price Performance

Primo Water stock opened at $24.21 on Tuesday. The company’s 50 day simple moving average is $25.36 and its 200-day simple moving average is $22.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.07 and a current ratio of 2.18. Primo Water Co. has a 1 year low of $14.06 and a 1 year high of $28.06. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10.

Primo Water Announces Dividend

The company also recently declared a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio is currently 22.36%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a report on Friday. Raymond James cut shares of Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Finally, William Blair began coverage on shares of Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primo Water currently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

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.