0000930413-20-000427.txt : 20200214 0000930413-20-000427.hdr.sgml : 20200214 20200214120239 ACCESSION NUMBER: 0000930413-20-000427 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200214 DATE AS OF CHANGE: 20200214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Primo Water Corp CENTRAL INDEX KEY: 0001365101 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 300278688 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-85782 FILM NUMBER: 20616355 BUSINESS ADDRESS: STREET 1: 101 NORTH CHERRY STREET STREET 2: SUITE 501 CITY: WINSTON-SALEM STATE: NC ZIP: 27101 BUSINESS PHONE: 336-331-4000 MAIL ADDRESS: STREET 1: 101 NORTH CHERRY STREET STREET 2: SUITE 501 CITY: WINSTON-SALEM STATE: NC ZIP: 27101 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Nuveen Asset Management, LLC CENTRAL INDEX KEY: 0001521019 IRS NUMBER: 274357327 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: C/O NUVEEN INVESTMENTS STREET 2: 333 W. WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: (312) 917-7700 MAIL ADDRESS: STREET 1: C/O NUVEEN INVESTMENTS STREET 2: 333 W. WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 SC 13G/A 1 c95199_sc13ga.htm

CUSIP No. 74165N105

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13G

 

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

(AMENDMENT NO. 1)*

 

Primo Water Corporation

 

(Name of Issuer)

 

Common

 

(Title of Class of Securities)

 

74165N105

 

(CUSIP Number)

 

December 31, 2019

 

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

  x  Rule 13d-1(b)
  o  Rule 13d-1(c)
  o  Rule 13d-1(d)

 

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

(Continued on following page(s))

 
 

CUSIP No. 74165N105

 

  13G Page 2 of 9

 

1. NAME OF REPORTING PERSONS  
     
  Nuveen Asset Management, LLC       27-4357327  
     
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o
    (b) o
     
3. SEC USE ONLY  
     
     
4. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

 

  5. SOLE VOTING POWER 44,977
       
  6. SHARED VOTING POWER 0
       
  7. SOLE DISPOSITIVE POWER 44,977
       
  8. SHARED DISPOSITIVE POWER 0
       
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  44,977
   
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
   
   
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  0.12%
   
12. TYPE OF REPORTING PERSON
   
  IA
 
 

CUSIP No. 74165N105

 

  13G Page 3 of 9

 

1. NAME OF REPORTING PERSONS  
     
  TIAA-CREF Investment Management, LLC  
     
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o
    (b) o
     
3. SEC USE ONLY  
     
     
4. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  
     

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

 

  5. SOLE VOTING POWER 54,961
       
  6. SHARED VOTING POWER 0
       
  7. SOLE DISPOSITIVE POWER 54,961
       
  8. SHARED DISPOSITIVE POWER 0
       
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  54,961
   
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
   
   
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  0.14%
   
12. TYPE OF REPORTING PERSON
   
  IA
 
 

CUSIP No. 74165N105

 

  13G Page 4 of 9

 

1. NAME OF REPORTING PERSONS  
     
  Teachers Advisors, LLC  
     
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o
    (b) o
     
3. SEC USE ONLY  
     
     
4. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  

 

NUMBER OF SHARES BENEFICIALLY OWNED

BY EACH REPORTING PERSON WITH:

 

  5. SOLE VOTING POWER 80,557
       
  6. SHARED VOTING POWER 0
       
  7. SOLE DISPOSITIVE POWER 80,557
       
  8. SHARED DISPOSITIVE POWER 0
       
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
  80,557
   
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES o
   
   
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
   
  0.21%
   
12. TYPE OF REPORTING PERSON
   
  IA
 
 

CUSIP No. 74165N105

 

  13G Page 5 of 9

 

Item 1(a). NAME OF ISSUER:
   
  Primo Water Corporation
   
Item 1(b). ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
   
  101 North Cherry Street
  Suite 501
  Winston-Salem, NC 27101
  United States
   
Items 2(a)-2(c). NAME, ADDRESS OF PRINCIPAL BUSINESS OFFICE, AND CITIZENSHIP OF PERSONS FILING:
   
  Nuveen Asset Management, LLC (“NAM”)
  333 W. Wacker Drive
  Chicago, IL 60606
  Citizenship: Delaware
   
  TIAA-CREF Investment Management, LLC (“TCIM”)
  730 Third Avenue
  New York, NY  10017-3206
  Citizenship: Delaware
   
  Teachers Advisors, LLC (“TAL”)
  730 Third Avenue
  New York, NY  10017-3206
  Citizenship: Delaware
   
Item 2(d). TITLE OF CLASS OF SECURITIES:
   
  Common Stock
   
Item 2(e). CUSIP NUMBER: 74165N105
   
Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A:
 
 

CUSIP No. 74165N105

 

  13G Page 6 of 9

 

NAM    
(a) o Broker or dealer registered under Section 15 of the Exchange Act.
(b) o Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) o Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d) o Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i) o A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j) o Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
     
TCIM    
(a) o Broker or dealer registered under Section 15 of the Exchange Act.
(b) o Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) o Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d) o Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).
(f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
(g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i) o A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j) o Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
     
TAL    
(a) o Broker or dealer registered under Section 15 of the Exchange Act.
(b) o Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) o Insurance Company as defined in Section 3(a)(19) of the Exchange Act.
(d) o Investment Company registered under Section 8 of the Investment Company Act of 1940.
(e) x An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E).  
(f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F).
 
 

CUSIP No. 74165N105

 

  13G Page 7 of 9

 

(g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G).
(h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act.
(i) o A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940.
(j) o Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

 

If this statement is filed pursuant to Rule 13d-1(c), check this box. o

 

Item 4. OWNERSHIP
   
  (a)  Aggregate amount beneficially owned:   180,495 (See Exhibit A attached)
     
  (b)  Percent of class: 0.46%
     
  (c)  Number of shares as to which person has:
   
  NAM TCIM TAL
       
Sole Voting Power: 44,977 54,961 80,557
       
Shared Voting Power: 0 0 0
       
Sole Dispositive Power: 44,977 54,961 80,557
       
Shared Dispositive Power: 0 0 0

 

Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
   
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following x.
   
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
   
  Not applicable.
 
 

CUSIP No. 74165N105

 

  13G Page 8 of 9

 

Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
   
  Not Applicable
   
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
   
  Not Applicable
   
Item 9. NOTICE OF DISSOLUTION OF GROUP.
   
  Not Applicable
   
Item 10. CERTIFICATIONS.
   
  By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with nomination under §240.14a-11
   
  SIGNATURE.
   
  After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
   
  Date: February 14, 2020
   
  NUVEEN ASSET MANAGEMENT, LLC
     
  By: /s/ Diane S. Meggs
  Diane S. Meggs
  Chief Compliance Officer
     
  TIAA-CREF INVESTMENT MANAGEMENT, LLC
     
  By: /s/ Stuart R. Brunet
  Stuart Brunet, Managing Director,
  Chief Compliance Officer
     
  TEACHERS ADVISORS, LLC
     
  By: /s/ Stuart R. Brunet
  Stuart Brunet, Managing Director,
  Chief Compliance Officer
 
 

CUSIP No. 74165N105

 

  13G Page 9 of 9

 

EXHIBIT A

 

ITEM 6. OWNERSHIP.

 

TIAA-CREF Investment Management, LLC (“TCIM”) is the investment adviser to the College Retirement Equities Fund (“CREF”), a registered investment company, and may be deemed to be a beneficial owner of 54,961 shares of Issuer’s common stock owned by CREF. Teachers Advisors, LLC (“TAL”) is the investment adviser to three registered investment companies, TIAA-CREF Funds (“Funds”), TIAA-CREF Life Funds (“Life Funds”), and TIAA Separate Account VA-1 (“VA-1”), as well as one or more separately managed accounts of Advisors (collectively, the “Separate Accounts”), and may be deemed to be a beneficial owner of 80,557 shares of Issuer’s common stock owned separately by Funds, Life Funds, VA-1, and/or the Separate Accounts. Nuveen Asset Management, LLC (“NAM”), is a registered investment adviser affiliated with TCIM and TAL. NAM may be deemed to be a beneficial owner of 44,977 shares of Issuer’s common stock. These shares were acquired in the ordinary course of business, and not with the purpose or effect of changing or influencing control of the Issuer.