Skye Global Management LP Has $55.85 Million Stock Holdings in Primo Water Co. (NYSE:PRMW)

Skye Global Management LP decreased its holdings in shares of Primo Water Co. (NYSE:PRMW) by 33.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,212,000 shares of the company’s stock after selling 1,112,444 shares during the quarter. Primo Water makes up about 1.3% of Skye Global Management LP’s holdings, making the stock its 14th biggest position. Skye Global Management LP owned approximately 1.38% of Primo Water worth $55,853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PRMW. CANADA LIFE ASSURANCE Co raised its position in shares of Primo Water by 255.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 52,111 shares of the company’s stock valued at $945,000 after purchasing an additional 37,465 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Primo Water by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 44,766 shares of the company’s stock worth $816,000 after buying an additional 5,670 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Primo Water in the first quarter valued at approximately $235,000. Jane Street Group LLC grew its stake in shares of Primo Water by 170.4% in the first quarter. Jane Street Group LLC now owns 619,811 shares of the company’s stock worth $11,287,000 after acquiring an additional 390,611 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Primo Water by 471.2% during the 1st quarter. Tidal Investments LLC now owns 66,149 shares of the company’s stock valued at $1,205,000 after purchasing an additional 54,569 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Primo Water Stock Performance

NYSE:PRMW opened at $24.21 on Friday. The stock has a market capitalization of $3.88 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. 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 Co. has a 1 year low of $14.06 and a 1 year high of $28.06. The firm has a 50 day moving average of $25.50 and a 200-day moving average of $23.26.

Primo Water Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.82 per share. This represents a yield of 1.3%. The ex-dividend date was Tuesday, November 5th. Primo Water’s dividend payout ratio is currently 22.36%.

Wall Street Analysts Forecast Growth

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

Primo Water Company 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.