Primo WaterPRMW
Market Cap: $3.73B
About: Primo Water is a pure-play water provider with a variety of products and services, including water delivery, exchange, refill/filtration, and water dispensers. Its operations are concentrated in North America following the divestiture of most of its international business, which has struggled to turn a profit. The firm usually initiates the customer relationship with the sale of water dispensers, and then generates recurring revenue via the water direct and exchange services (two thirds of total sales) by delivering large-format (typically three gallons or greater) water bottles to residential and commercial customers for use atop or inside the dispensers.
Employees: 6,400
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
846% more call options, than puts
Call options by funds: $27.6M | Put options by funds: $2.92M
117% more first-time investments, than exits
New positions opened: 63 | Existing positions closed: 29
40% more funds holding in top 10
Funds holding in top 10: 5 [Q1] → 7 (+2) [Q2]
25% more capital invested
Capital invested by funds: $2.5B [Q1] → $3.11B (+$614M) [Q2]
14% more funds holding
Funds holding: 246 [Q1] → 280 (+34) [Q2]
2.84% more ownership
Funds ownership: 85.9% [Q1] → 88.74% (+2.84%) [Q2]
2% less repeat investments, than reductions
Existing positions increased: 93 | Existing positions reduced: 95
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
CIBC | 12%upside $26 | Outperformer Maintained | 18 Jun 2024 |
JP Morgan Andrea Teixeira 53% 1-year accuracy 32 / 60 met price target | 12%upside $26 | Overweight Maintained | 18 Jun 2024 |
RBC Capital Nik Modi 58% 1-year accuracy 22 / 38 met price target | 29%upside $30 | Outperform Reiterated | 18 Jun 2024 |
Financial journalist opinion
Based on 3 articles about PRMW published over the past 30 days