The Vanguard Group, Inc. recently announced the acquisition of new stake in Primo Water Corporation (NYSE:PRMW). The institutional investor has increased its shareholding in the Consumer Defensive company by 4.73% to 10.22 million shares with purchase of 0.46 million shares. This fresh investment now brings its stake to 6.41% valued currently at $146.8 million. In addition, Threadneedle Asset Management Ltd raised its holdings by 0.15 million to 4.68 million shares. And Thrivent Asset Management LLC has lifted its position by 2.01% or 80559.0 shares – to 4.1 million shares.
With over 0.46 million Primo Water Corporation (PRMW) shares trading Friday and a closing price of $15.19 on the day, the dollar volume was approximately $7.0 million. The shares have shown a positive half year performance of 19.79% and its price on 12/22/23 gained nearly 0.80%. Currently, there are 160.73M common shares owned by the public and among those 154.02M shares have been available to trade.
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The top 3 mutual fund holders in Primo Water Corporation are Undiscovered Managers Behavioral, Vanguard Total Stock Market ETF, and Columbia Variable Portfolio – Ove. Undiscovered Managers Behavioral owns 6.36 million shares of the company’s stock, all valued at over $91.43 million. The company sold 48800.0 shares recently to bring their total holdings to about 3.99% of the shares outstanding. Vanguard Total Stock Market ETF bought 8868.0 shares to see its total holdings expand to 4.77 million shares valued at over $68.5 million and representing 2.99% of the shares outstanding. Columbia Variable Portfolio – Ove bought 0.15 million shares to bring its total holdings to over 4.65 million shares at a value of $66.78 million. Columbia Variable Portfolio – Ove now owns shares totaling to 2.92% of the shares outstanding.
Shares of Primo Water Corporation (NYSE: PRMW) opened at $15.20, up $0.13 from a prior closing price of $15.07. The company’s stock has a 5-day price change of 0.20% and 6.60% over the past three months. PRMW shares are trading -2.25% year to date (YTD), with the 12-month market performance down to -2.57% lower. It has a 12-month low price of $12.27 and touched a high of $16.47 over the same period. PRMW has an average intraday trading volume of 948.10K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.24%, 6.17%, and 6.99% respectively.
Institutional ownership of Primo Water Corporation (NYSE: PRMW) shares accounts for 87.93% of the company’s 160.73M shares outstanding. Mutual fund holders own 4.01%, while other institutional holders and individual stakeholders account for 55.80% and 33.88% respectively.
It has a market capitalization of $2.42B and a beta (3y monthly) value of 1.10. The stock’s trailing 12-month PE ratio is 20.67, while the earnings-per-share (ttm) stands at $0.73. The company has a PEG of 1.42 and a Quick Ratio of 0.67 with the debt-to-equity ratio at 1.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.28% over the week and 2.04% over the month.
Analysts forecast that Primo Water Corporation (PRMW) will achieve an EPS of $0.17 for the current quarter, $0.1 for the next quarter and $0.85 for 2024. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 25.53%, and 2.27% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Primo Water Corporation (PRMW) as a “Strong Buy” at a consensus score of 1.29. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
