Insider Selling: Primo Water Co. (PRMW) Director Sells 148,678 Shares of Stock

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Primo Water Co. (NASDAQ:PRMW) Director Charles A. Norris sold 148,678 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $20.18, for a total value of $3,000,322.04. Following the sale, the director now directly owns 4,282 shares in the company, valued at $86,410.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Charles A. Norris also recently made the following trade(s):

  • On Wednesday, August 29th, Charles A. Norris sold 25,000 shares of Primo Water stock. The shares were sold at an average price of $20.00, for a total value of $500,000.00.

Primo Water stock opened at $19.44 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 1.06. Primo Water Co. has a one year low of $10.47 and a one year high of $20.72. The firm has a market cap of $744.11 million, a P/E ratio of -69.43, a price-to-earnings-growth ratio of 4.33 and a beta of 0.37.

Primo Water (NASDAQ:PRMW) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. Primo Water had a return on equity of 8.21% and a net margin of 3.21%. The company had revenue of $75.80 million for the quarter, compared to analysts’ expectations of $72.96 million. equities analysts anticipate that Primo Water Co. will post 0.38 EPS for the current fiscal year.

Several equities research analysts recently commented on PRMW shares. Barrington Research increased their price objective on Primo Water from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Zacks Investment Research raised Primo Water from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Saturday, August 11th. William Blair started coverage on Primo Water in a research report on Thursday, May 24th. They set an “outperform” rating on the stock. BidaskClub raised Primo Water from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. Finally, BMO Capital Markets increased their price objective on Primo Water from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Primo Water has an average rating of “Buy” and an average price target of $20.75.

Several institutional investors have recently added to or reduced their stakes in the stock. Akre Capital Management LLC boosted its position in Primo Water by 48.6% in the second quarter. Akre Capital Management LLC now owns 2,843,220 shares of the company’s stock worth $49,728,000 after purchasing an additional 930,000 shares during the last quarter. BlackRock Inc. boosted its position in Primo Water by 23.4% in the second quarter. BlackRock Inc. now owns 1,804,996 shares of the company’s stock worth $31,569,000 after purchasing an additional 342,728 shares during the last quarter. Manatuck Hill Partners LLC boosted its position in Primo Water by 7.1% in the second quarter. Manatuck Hill Partners LLC now owns 1,292,000 shares of the company’s stock worth $22,597,000 after purchasing an additional 86,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Primo Water by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,045,086 shares of the company’s stock worth $18,279,000 after purchasing an additional 251,899 shares during the last quarter. Finally, Legion Partners Asset Management LLC boosted its position in Primo Water by 34.9% in the first quarter. Legion Partners Asset Management LLC now owns 812,774 shares of the company’s stock worth $9,518,000 after purchasing an additional 210,087 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

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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