Chartwell Investment Partners LLC Reduces Holdings in Primo Water Co. (NYSE:PRMW)

Chartwell Investment Partners LLC reduced its stake in shares of Primo Water Co. (NYSE:PRMW) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 307,016 shares of the company’s stock after selling 34,421 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Primo Water were worth $7,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRMW. Triasima Portfolio Management inc. acquired a new stake in shares of Primo Water in the second quarter valued at approximately $12,732,000. Acadian Asset Management LLC boosted its stake in Primo Water by 559.2% during the 2nd quarter. Acadian Asset Management LLC now owns 547,250 shares of the company’s stock worth $11,947,000 after purchasing an additional 464,232 shares during the period. Intact Investment Management Inc. boosted its stake in Primo Water by 43.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock worth $34,849,000 after purchasing an additional 419,370 shares during the period. Jane Street Group LLC grew its position in Primo Water by 170.4% during the 1st quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after purchasing an additional 390,611 shares during the last quarter. Finally, Forge First Asset Management Inc. acquired a new position in Primo Water in the first quarter valued at $6,792,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Primo Water Stock Down 0.9 %

PRMW opened at $24.21 on Tuesday. The business has a 50 day simple moving average of $25.36 and a 200-day simple moving average of $22.91. Primo Water Co. has a 12 month low of $14.06 and a 12 month high of $28.06. The stock has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07.

Primo Water Dividend Announcement

The business also recently declared a — dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a dividend yield of 1.3%. Primo Water’s dividend payout ratio (DPR) is presently 22.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PRMW. Raymond James downgraded shares of Primo Water from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. StockNews.com raised Primo Water from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $30.00 target price on shares of Primo Water in a report on Tuesday, October 1st. Finally, William Blair started coverage on Primo Water in a report on Thursday, October 24th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Primo Water currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

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.