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

Skye Global Management LP lessened its stake in Primo Water Co. (NYSE:PRMW) by 33.5% in the third quarter, HoldingsChannel reports. The firm owned 2,212,000 shares of the company’s stock after selling 1,112,444 shares during the period. Primo Water accounts for about 1.3% of Skye Global Management LP’s holdings, making the stock its 14th biggest position. Skye Global Management LP’s holdings in Primo Water were worth $55,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Primo Water by 18.9% during the third quarter. FMR LLC now owns 17,432,920 shares of the company’s stock worth $440,181,000 after purchasing an additional 2,765,388 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Primo Water by 0.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,827,623 shares of the company’s stock valued at $96,647,000 after acquiring an additional 32,875 shares during the period. Renaissance Technologies LLC grew its stake in Primo Water by 3.2% in the second quarter. Renaissance Technologies LLC now owns 1,595,042 shares of the company’s stock valued at $34,868,000 after acquiring an additional 49,500 shares during the period. TD Asset Management Inc raised its position in shares of Primo Water by 27.3% during the second quarter. TD Asset Management Inc now owns 1,401,438 shares of the company’s stock worth $30,623,000 after purchasing an additional 300,929 shares during the period. Finally, Intact Investment Management Inc. lifted its holdings in shares of Primo Water by 43.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,381,240 shares of the company’s stock valued at $34,849,000 after purchasing an additional 419,370 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

Primo Water Stock Performance

Shares of PRMW opened at $24.21 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.18 and a quick ratio of 2.07. The firm has a 50-day moving average of $25.50 and a 200-day moving average of $23.26. The company has a market cap of $3.88 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. Primo Water Co. has a one year low of $14.06 and a one year high of $28.06.

Primo Water Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRMW shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Primo Water in a report on Tuesday, October 1st. Raymond James lowered Primo Water from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. William Blair began coverage on shares of Primo Water in a research note on Thursday, October 24th. They set an “outperform” rating for the company. Finally, StockNews.com assumed coverage on shares of Primo Water in a research report on Tuesday. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.