Cott Corp. (COT) Downgraded by TheStreet to “Hold”
Cott Corp. (NYSE:COT) was downgraded by investment analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
A number of other brokerages have also issued reports on COT. Deutsche Bank AG lifted their price target on Cott Corp. from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $23.00 price target on shares of Cott Corp. in a research note on Friday, August 5th. Stifel Nicolaus raised Cott Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Citigroup Inc. lifted their price target on Cott Corp. from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, June 8th. Finally, Credit Suisse Group AG set a $19.00 price target on Cott Corp. and gave the stock a “buy” rating in a research note on Friday, August 5th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.70.
Cott Corp. (NYSE:COT) traded down 1.29% during mid-day trading on Monday, reaching $13.76. The company’s stock had a trading volume of 508,276 shares. The firm’s 50 day moving average price is $15.25 and its 200 day moving average price is $14.74. Cott Corp. has a 12-month low of $8.96 and a 12-month high of $17.38. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 362.11 and a beta of 0.59.
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Cott Corp. (NYSE:COT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.02. The business earned $765 million during the quarter, compared to analysts’ expectations of $766.83 million. Cott Corp. had a net margin of 0.20% and a return on equity of 4.53%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. On average, equities analysts predict that Cott Corp. will post $0.24 earnings per share for the current year.
In other news, CEO Jeremy S. G. Fowden sold 148,515 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $17.09, for a total value of $2,538,121.35. Following the transaction, the chief executive officer now owns 892,500 shares of the company’s stock, valued at approximately $15,252,825. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric Rosenfeld sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $17.00, for a total value of $425,000.00. Following the completion of the transaction, the director now directly owns 465,065 shares in the company, valued at approximately $7,906,105. The disclosure for this sale can be found here. 2.19% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Walleye Trading LLC raised its position in shares of Cott Corp. by 203.8% in the second quarter. Walleye Trading LLC now owns 7,900 shares of the company’s stock valued at $110,000 after buying an additional 5,300 shares during the period. Legal & General Group Plc increased its stake in Cott Corp. by 61.1% in the first quarter. Legal & General Group Plc now owns 8,702 shares of the company’s stock valued at $121,000 after buying an additional 3,300 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Cott Corp. during the second quarter valued at about $142,000. Massachusetts Financial Services Co. MA increased its stake in Cott Corp. by 4.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,514 shares of the company’s stock valued at $147,000 after buying an additional 450 shares in the last quarter. Finally, Advisor Group Inc. purchased a new stake in Cott Corp. during the second quarter valued at about $174,000.
Cott Corp. Company Profile
Cott Corporation, along with its subsidiaries, is engaged in production of beverages on behalf of retailers, brand owners and distributors. The Company operates through four segments: DSS; Cott North America; Cott United Kingdom (Cott U.K.), and All Other, which includes its Mexico segment, Royal Crown International (RCI) segment and other miscellaneous expenses.
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