Levin Capital Strategies L.P. Sells 14,140 Shares of Primo Water Co. (NYSE:PRMW)

Levin Capital Strategies L.P. trimmed its position in shares of Primo Water Co. (NYSE:PRMW) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,960 shares of the company’s stock after selling 14,140 shares during the period. Levin Capital Strategies L.P. owned 0.12% of Primo Water worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. grew its holdings in Primo Water by 6.2% during the fourth quarter. Natixis Advisors L.P. now owns 23,570 shares of the company’s stock valued at $354,000 after purchasing an additional 1,368 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of Primo Water by 8.9% in the fourth quarter. Intact Investment Management Inc. now owns 463,000 shares of the company’s stock worth $6,975,000 after acquiring an additional 38,000 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Primo Water by 35.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,473,607 shares of the company’s stock worth $22,180,000 after acquiring an additional 387,595 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Primo Water by 2.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 291,644 shares of the company’s stock worth $4,389,000 after acquiring an additional 5,609 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Primo Water in the fourth quarter worth $644,000. 87.71% of the stock is owned by institutional investors.

Primo Water Trading Up 3.1 %

Shares of PRMW traded up $0.59 during trading hours on Thursday, hitting $19.59. The company had a trading volume of 829,441 shares, compared to its average volume of 1,011,668. The company has a quick ratio of 1.92, a current ratio of 2.03 and a debt-to-equity ratio of 0.88. The firm has a market cap of $3.15 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.78 and a beta of 1.09. Primo Water Co. has a 52-week low of $12.27 and a 52-week high of $19.66. The stock’s 50 day moving average price is $17.53 and its 200 day moving average price is $15.62.

Primo Water (NYSE:PRMW) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). The business had revenue of $438.70 million during the quarter, compared to the consensus estimate of $582.93 million. Primo Water had a return on equity of 8.55% and a net margin of 10.82%. On average, research analysts predict that Primo Water Co. will post 0.82 EPS for the current year.

Primo Water Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Primo Water’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.84%. Primo Water’s dividend payout ratio (DPR) is presently 24.16%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PRMW shares. Raymond James lowered Primo Water from a “strong-buy” rating to an “outperform” rating and set a $21.00 price target for the company. in a report on Wednesday, April 3rd. TD Securities lowered their price objective on Primo Water from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. StockNews.com downgraded Primo Water from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, JPMorgan Chase & Co. raised their price target on Primo Water from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

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.