Cott Trading Down 2.5% Following Insider Selling (COT)
Cott (NYSE:COT) shares dropped 2.5% during mid-day trading on Friday following insider selling activity, StockRatingsNetwork.com reports. The company traded as low as $7.33 and last traded at $7.35, with a volume of 324,706 shares trading hands. The stock had previously closed at $7.54.
Specifically, VP Gregory Leiter unloaded 12,000 shares of the stock on the open market in a transaction dated Thursday, August 21st. The stock was sold at an average price of $7.37, for a total value of $88,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on COT. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Cott in a research note on Friday, August 1st. They now have a $8.50 price target on the stock, up previously from $8.25. Analysts at Jefferies Group initiated coverage on shares of Cott in a research note on Monday, June 9th. They set a “hold” rating and a $7.80 price target on the stock. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $8.73.
The stock’s 50-day moving average is $7.11 and its 200-day moving average is $7.57. The company’s market cap is $689.0 million.
Cott (NYSE:COT) last announced its earnings results on Thursday, July 31st. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $550.90 million for the quarter, compared to the consensus estimate of $552.98 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts expect that Cott will post $0.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, August 26th.
Cott Corporation (NYSE:COT) is a producers of beverages on behalf of retailers, brand owners and distributors.
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