CIBC Asset Management Inc Lowers Position in Primo Water Co. (NYSE:PRMW)

CIBC Asset Management Inc trimmed its position in shares of Primo Water Co. (NYSE:PRMW) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,625 shares of the company’s stock after selling 1,875 shares during the period. CIBC Asset Management Inc owned about 0.12% of Primo Water worth $4,988,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PRMW. ProShare Advisors LLC raised its holdings in shares of Primo Water by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 28,137 shares of the company’s stock valued at $512,000 after buying an additional 2,215 shares in the last quarter. Acadian Asset Management LLC grew its position in Primo Water by 153,637.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,018 shares of the company’s stock worth $1,509,000 after acquiring an additional 82,964 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Primo Water by 1.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 148,209 shares of the company’s stock worth $2,699,000 after acquiring an additional 2,794 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Primo Water by 255.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 52,111 shares of the company’s stock worth $945,000 after acquiring an additional 37,465 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Primo Water during the 1st quarter worth approximately $66,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of Primo Water in a research report on Tuesday, October 1st. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. William Blair assumed coverage on Primo Water in a research report on Thursday, October 24th. They set an “outperform” rating on the stock. Finally, StockNews.com upgraded Primo Water from a “hold” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.83.

Primo Water Stock Down 0.9 %

Shares of NYSE:PRMW opened at $24.21 on Monday. The stock has a fifty day simple moving average of $25.47 and a two-hundred day simple moving average 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. Primo Water Co. has a 12-month low of $14.06 and a 12-month high of $28.06. The company has a current ratio of 2.18, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86.

Primo Water Dividend Announcement

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