New York State Common Retirement Fund Trims Holdings in Primo Water Co. (NYSE:PRMW)

New York State Common Retirement Fund lowered its holdings in Primo Water Co. (NYSE:PRMW - Free Report) by 10.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 905,300 shares of the company's stock after selling 108,392 shares during the quarter. New York State Common Retirement Fund owned 0.56% of Primo Water worth $22,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRMW. 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 during the period. CWM LLC boosted its stake in shares of Primo Water by 31.5% in the 3rd quarter. CWM LLC now owns 3,310 shares of the company's stock worth $84,000 after buying an additional 792 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Primo Water by 375.9% in the third quarter. GAMMA Investing LLC now owns 1,242 shares of the company's stock worth $31,000 after acquiring an additional 981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Primo Water by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,744 shares of the company's stock valued at $781,000 after acquiring an additional 1,307 shares during the last quarter. Finally, Creative Planning lifted its holdings in Primo Water by 8.8% in the second quarter. Creative Planning now owns 17,301 shares of the company's stock valued at $378,000 after acquiring an additional 1,402 shares during the period. 87.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRMW has been the subject of several research reports. StockNews.com lowered shares of Primo Water from a "buy" rating to a "hold" rating in a research report on Sunday, October 13th. William Blair began coverage on shares of Primo Water in a report on Thursday, October 24th. They set an "outperform" rating for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $30.00 price target on shares of Primo Water in a research note on Tuesday, October 1st. Finally, Raymond James lowered Primo Water from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.83.

Primo Water Price Performance

PRMW stock traded down $1.13 during mid-day trading on Tuesday, hitting $25.11. The company had a trading volume of 2,758,176 shares, compared to its average volume of 1,238,854. The company has a 50-day moving average price of $25.09 and a 200 day moving average price of $22.70. Primo Water Co. has a 12-month low of $14.06 and a 12-month high of $28.06. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.95 and a beta of 1.10. 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 (NYSE:PRMW - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Primo Water had a return on equity of 8.94% and a net margin of 12.61%. The business had revenue of $485.00 million for the quarter, compared to analysts' expectations of $477.40 million. During the same period in the prior year, the firm earned $0.22 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts anticipate that Primo Water Co. will post 0.88 earnings per share for the current year.

Primo Water Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.82 dividend. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water's dividend payout ratio (DPR) is presently 22.78%.

Primo Water Company 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.