Deprince Race & Zollo Inc. Decreases Holdings in Primo Water Co. (NYSE:PRMW)

Deprince Race & Zollo Inc. lessened its stake in shares of Primo Water Co. (NYSE:PRMW - Free Report) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,890,579 shares of the company's stock after selling 473,575 shares during the quarter. Primo Water comprises approximately 1.4% of Deprince Race & Zollo Inc.'s holdings, making the stock its 8th largest position. Deprince Race & Zollo Inc. owned about 1.80% of Primo Water worth $63,188,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tocqueville Asset Management L.P. boosted its stake in shares of Primo Water by 108.7% during the 1st quarter. Tocqueville Asset Management L.P. now owns 96,000 shares of the company's stock worth $1,748,000 after acquiring an additional 50,000 shares in the last quarter. Jane Street Group LLC boosted its stake in Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company's stock valued at $11,287,000 after purchasing an additional 390,611 shares during the period. Strategic Wealth Partners Ltd. bought a new stake in Primo Water during the 1st quarter valued at approximately $879,000. Goldman Sachs Group Inc. boosted its stake in Primo Water by 32.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,850,165 shares of the company's stock valued at $57,945,000 after purchasing an additional 937,235 shares during the period. Finally, Tidal Investments LLC boosted its stake in Primo Water by 471.2% during the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company's stock valued at $1,205,000 after purchasing an additional 54,569 shares during the period. Institutional investors own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRMW shares. Royal Bank of Canada restated an "outperform" rating and set a $30.00 target price on shares of Primo Water in a research note on Tuesday, June 18th. StockNews.com downgraded Primo Water from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on Primo Water from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, June 18th. CIBC increased their target price on Primo Water from $24.00 to $26.00 and gave the company an "outperformer" rating in a research note on Tuesday, June 18th. Finally, TD Securities increased their target price on Primo Water from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.83.

Primo Water Price Performance

Shares of PRMW traded down $0.91 during mid-day trading on Thursday, reaching $24.26. The company had a trading volume of 1,259,854 shares, compared to its average volume of 1,211,837. Primo Water Co. has a twelve month low of $12.92 and a twelve month high of $25.60. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The company's 50-day moving average is $22.59 and its 200-day moving average is $21.04. The company has a market capitalization of $3.89 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.87 and a beta of 1.10.

Primo Water (NYSE:PRMW - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The firm had revenue of $485.00 million during the quarter, compared to analysts' expectations of $477.40 million. During the same period last year, the firm posted $0.22 EPS. The business's revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Primo Water Co. will post 0.88 EPS for the current year.

Primo Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.48%. Primo Water's dividend payout ratio is 22.36%.

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.