Primo Water Co. (NYSE:PRMW) Stake Trimmed by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD lessened its stake in shares of Primo Water Co. (NYSE:PRMW) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 368,042 shares of the company’s stock after selling 597 shares during the period. Primo Water accounts for approximately 3.6% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 7th biggest position. Corbyn Investment Management Inc. MD owned about 0.23% of Primo Water worth $9,293,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Natixis Advisors LLC raised its holdings in shares of Primo Water by 3.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,401 shares of the company’s stock worth $616,000 after acquiring an additional 852 shares during the period. Royce & Associates LP acquired a new position in Primo Water in the third quarter valued at about $4,220,000. Plato Investment Management Ltd acquired a new position in Primo Water in the third quarter valued at about $392,000. Hiddenite Capital Partners LP lifted its position in Primo Water by 50.0% in the third quarter. Hiddenite Capital Partners LP now owns 150,000 shares of the company’s stock valued at $3,788,000 after buying an additional 50,000 shares during the last quarter. Finally, Aigen Investment Management LP lifted its position in Primo Water by 11.3% in the third quarter. Aigen Investment Management LP now owns 20,328 shares of the company’s stock valued at $513,000 after buying an additional 2,063 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

PRMW has been the topic of a number of recent analyst reports. StockNews.com raised shares of Primo Water from a “hold” rating to a “buy” rating in a research report on Thursday. Raymond James lowered shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. William Blair assumed coverage on Primo Water in a report on Thursday, October 24th. They issued an “outperform” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.83.

Primo Water Trading Down 0.9 %

NYSE:PRMW opened at $24.21 on Monday. The stock has a fifty day moving average price of $25.47 and a two-hundred day moving average price of $23.06. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.78 and a beta of 1.10. 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.

Primo Water Dividend Announcement

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 $0.82 dividend. This represents a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 5th. Primo Water’s dividend payout ratio is currently 22.36%.

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.